Why does everyone buy flowers in Australia? What are the benefits?

Purchase process of uncompleted flats in Australia

1. Reserve a property:

After the buyer chooses a satisfactory house, he needs to pay a down payment (usually 1, Australian dollars) for the intermediary to apply to the developer to keep the property; The deposit will be refunded to the buyers within the specified time.

2. Sign the contract:

The intermediary/developer provides the buyer or the buyer's representative lawyer with the purchase contract, and the buyer signs it after consulting his representative lawyer and fully understanding the contract; At the same time, developers also need to sign the purchase contract, and provide buyers with a signed contract, and the purchase contract will take effect.

3. Apply for FIRB approval:

Most buildings have firb quotas; For some properties that have not applied for FIRB, overseas buyers can submit their applications to the Australian Overseas Investment Review Board (FIRB). This step is only applicable to non-Australian citizens. Buyers need to fill out an application form and submit it to FIRB for review. This process is generally assisted by the lawyers representing the buyers.

4. Pay 1% down payment:

The buyer needs to pay 1% of the house purchase price as down payment within the time specified in the contract (usually 1 working days). This deposit can be paid to the trust account of the developer's lawyer, or it can be deposited in the buyer's own account and then issued by his bank with a guarantee; The bank charges a one-time account opening fee (A $25) and a one-year management fee of 1.65%. If the deposit is paid in the form of Bank Guarantee, before the house is delivered, the buyer can also get the deposit interest of the deposit (the current interest rate is about 4.21%).

5. Construction:

During this construction period, the buyers do not need to pay any fees.

6. Final inspection:

After the house is completed, the developer will invite the buyers or their representatives to go for inspection. During the acceptance process, the problems found will be recorded, and the developer will then arrange for repairs. If there are any problems in the house within three months after the completion of delivery, the developer will also be responsible for the maintenance in time.

7. Warranty and maintenance and use of indoor facilities:

home insurance has been included in the property management fee paid every quarter, so there is no need to pay separately. The indoor facilities involved here include dishwashers, ovens, range hoods and stoves, all of which have a three-year manufacturer's warranty and two-year government compulsory insurance, that is, a five-year insurance period.

8. Settlement:

On the day of delivery of the house, the buyer needs to pay the full amount of the house to the developer, and the lawyer of the buyer will negotiate with the lawyer of the developer with the contract and the house price to complete the final delivery procedures. The buyers then moved into the new house.

Important note:

1. The attorney of the buyer has the responsibility to ask the lawyer of the developer or the owner for the sales contract, check whether the relevant files of the property for sale are complete, explain the meaning of the terms to the guests, and then negotiate with the lawyer of the other party according to the wishes of the guests to revise some of the terms (such as payment methods) so as to form a contract acceptable to both buyers and sellers.

2. In general, after signing the contract, the buyer must pay 1% of the house price as the down payment; The remaining 9% shall be paid within one week from the time when the opposing lawyer notifies the delivery of the house. As the down payment of the house purchase, the deposit is not paid directly to the developer, but remitted to the trust bank account of the buyer's lawyer or agent supervised by the relevant government departments, and the corresponding interest can be obtained during the period. At the time of sales, the developer shall hire a licensed qualified surveyor to conduct acceptance inspection according to the standards stipulated in the contract and issue a certificate of completion; The relevant departments of the city hall will re-examine and issue a certificate of conformity. If the acceptance is unqualified, the buyer and the seller can terminate the contract, and the lawyer will refund the 1% deposit paid in the previous period and the bank interest.

3. If necessary, the buyer can discuss the loan with financial professionals. Depending on the buyer's actual situation and needs, the loan amount can reach 7% to 8% of the property price.

4. Generally, as long as the buyer provides a copy of passport and China address, an Australian bank account can be opened for the buyer. The buyer can remit the payment period of the house purchase to this account, and the income of the house rent and the payable contributions can be handled through this account. If the buyer's loan is less than 7% of the house price, then the rental income is enough to pay the interest on the purchase price at the current interest rate in Australia.

5. Only buying a house in Australia cannot be a necessary reason for the buyer's immigration application to be approved. In order to attract customers, many intermediary companies play the guise of "buying Australian real estate can immigrate to Australia"; But in fact, buying a house does not guarantee the success of immigration. Moreover, the Australian Immigration Service does not require business immigrant applicants to purchase Australian properties before applying.

Six major expenses involved in the purchase of uncompleted flats in Australia

1. Agency fees for Australian real estate loans:

Almost all lending institutions will charge new home lenders a one-time account opening fee, while some lending institutions will waive this fee in order to gain business; Most banks also charge annual or monthly fees for their accounts.

2. Evaluation fee:

Lending institutions usually require an evaluation of the property buyers want to buy to ensure that the price paid by the buyers is fair. Although this is for the benefit of buyers, the evaluation fee usually needs to be paid by buyers. Similarly, the assessment fees vary from institution to institution. Some banks do not charge assessment fees, while some lending institutions will charge different assessment fees according to the location and type of property buyers want to buy.

3. Attorney's fees:

According to the service content of lawyers, the fees are different. Property buyers often ask a lawyer in the process of purchasing real estate, and the lawyer will help them complete the whole process of real estate delivery, and the fees generally range from 8-15 Australian dollars.

4. Property management fee:

For villa communities or apartments developed as a whole, property management fee is required, and the amount varies according to different projects.

5. Municipal fees:

This is an annual fee, which is used for community management and garbage disposal, and needs to be paid quarterly.

6. Water fee:

Water fee is used for the maintenance and repair of sewage pipes and needs to be paid quarterly.