Buying Off The Plan
By SPACE Projects
It may seem like a regular unit purchase but there is actually a lot more involved when Buying Off The Plan!
Following is an easy step-by-step checklist on what to expect with each process:
STEP 1: to secure the property
- Complete an Expression of Interest (EOI) form
- Pay the initial deposit of $1,000
- The property is then placed on hold for you whilst contracts are being reviewed by your solicitor
STEP 2: Review, Sign and Exchange Your Contract
- Contracts are signed by you as the buyer and then by the developer
- Pay the 10% balance of the purchase price (less your initial holding deposit). The contract is now legally binding!
- If you have an existing property that you would like to sell, let us know if we can help.
STEP 3: Financing Your Property
- 3 months prior to settlement, organise your finances
- Your bank will let you know if a valuation on the property is required by an independent valuer
STEP 4: Settlement
- We’ll contact you once the building is completed and a Certificate of Occupancy is issued and prior to titles being registered, to arrange a pre-settlement inspection of your property.
Your solicitor will advise you of the settlement date once titles are registered. - After settlement the key to your brand new property is yours!
Congratulations!
For any further information, do not hesitate to contact the SPACE Projects team!
T 07 3252 3344 | F 07 3036 5930 | E enquiry@spbrisbane.com.au
