What is the transaction process of Australian real estate? Introduction to buying a house in Australia

Many China people decide to buy a house in Australia, but they know nothing about Australian real estate transactions. Although there are professional intermediary companies to help, it is good to know the most basic real estate transaction process.

So, what is the Australian real estate transaction process?

1. Select properties:

Buyers choose real estate projects and specific room numbers, pay a deposit, sign a pre-purchase agreement, and developers will keep the house after receiving the pre-order

2. Sign a contract:

After receiving the deposit, the developer will provide the buyer's lawyer with the purchase contract within 2-3 days. The contract is established after the lawyers of the buyer and the seller have examined and signed it correctly.

3. Pay down payment:

After the contract is established, the buyer generally pays 10% of the house price within 5- 10 working days. When the house is sold, the buyer pays the balance;

4. Loan application:

If you apply for a housing loan, prepare relevant loan materials, with the assistance of housing and housing loan brokers. The loan amount for overseas people is 60%-80%.

5. Transmission completed:

On the transaction date stipulated in the contract, the bank lends money, the buyer pays the balance, and the lawyers of both parties hold the contract and handle the handover procedures. Complete the transfer.

In addition, there are differences in the transaction process between Australian auction houses and existing houses.

I. Purchase Process of Forward House

1. Book a room

After the buyer chooses a satisfactory house, he can pay a deposit, usually 2000 Australian dollars, to apply for keeping the room number. The deposit will be refunded within the specified time.

2. Sign a house purchase contract

Developers provide purchase contracts to buyers or their lawyers. Property buyers sign the contract after consulting a lawyer and fully understanding the contract. At the same time, developers also need to sign the purchase contract and provide the signed contract to the buyers. The purchase contract came into effect.

Apply for FIRB

Overseas investors submit their applications to the Australian Overseas Investment Review Board (FIRB). Buyers need to fill out an application form and submit it to the Overseas Investment Review Board for review. This process is usually assisted by the buyer's lawyer.

4. Down payment for house purchase 10%.

Property buyers need to pay 10% of the house purchase price as the down payment within the time stipulated in the contract, which is generally 10 working days. This deposit can be paid to the developer's trust account. If the deposit is paid in the form of bank guarantee, the buyer can also get the deposit interest of the deposit before the house is delivered.

5. Residential construction

Developers need to complete the construction within the time stipulated in the contract. During this construction period, property buyers do not need to pay any fees.

6. House inspection before delivery

After the house is completed, the developer will invite the buyers or their representatives to inspect the house. Buyers should take this opportunity to determine whether the construction of the house meets the standards stipulated in the contract.

7. Delivery

On the day of delivery, the buyer needs to pay the developer the full amount of the house purchase, and the buyer's lawyer will negotiate with the developer's lawyer with the contract and the house payment to complete the final delivery procedures. Buyers will move in.

Second, the existing home purchase process

1. Check the house, check the landlord's statement and the contract for selling the house.

Property buyers can go to see the house within the specified time. If they are satisfied with the property, they can ask the landlord to provide the landlord's statement and the contract for selling the house. Most sales contracts contain the landlord's statement.

2. Sign a house purchase contract

Property buyers sign the contract after consulting their lawyers and fully understanding, and indicate the bid. The delivery time is usually 30 to 90 days. If the landlord agrees to the buyer's bid and other conditions, he can sign a house purchase contract. The contract will come into effect after being signed by both parties. Usually, buyers need to pay a deposit to show their sincerity when bidding, and the deposit can be refunded later.

3. Down payment for house purchase 10%.

Property buyers need to pay 10% of the house purchase price as the down payment within the time stipulated in the contract, which is generally 10 working days. This deposit is usually paid to the trust account of the landlord's agent or lawyer.

4. House inspection before delivery

Generally, the landlord will invite buyers to see the house the day before the delivery. Buyers can take this opportunity to check whether the house is in line with the contract and inform their lawyers whether to make follow-up delivery. If serious problems are found in the process of house inspection, buyers must immediately notify their lawyers for consultation and take corresponding measures.

pay

On the day of delivery, the buyer needs to pay the landlord the full amount of the house purchase, and the buyer's lawyer will negotiate with the landlord's lawyer with the contract and the house payment to complete the final delivery procedures. Property buyers can then move in.

(The above answers were published on 20 15-09- 16. Please refer to the current actual purchase policy. )

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