Tips For Buying Off The Plan

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