June 13, 2010
The Purchasing Process In Rainbow Beach
If you’re an oversea’s investor aiming to invest in the real estate market in Australia then the procedure is pretty much straight forward but can take some time. Authorization must initially be sought from the Australian Foreign Investment Review Board.(FIRB)Once you’ve found the property you intend to buy then an offer is tendered. This offer is then approved or rejected. A counter offer is normally submitted by the owner of the property if he fails to accept your offer.Once agreement has been made, a ten percent holding fee is necessary as the Contract of Sale is drawn up. During this time the buyer can withdraw from the sale and receive the majority of their deposit back (minus administration charge).Whilst the Contract of Sale is being drawn up the vendor must make sure that the real estate in rainbow beach is fit to sell. The buyer must also make sure that all paperwork is in order and prepare finance if necessary.The rest of monies should be handed to the seller upon signing of the final sale papers.
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