Buyers' Guide

If you have considered purchasing a property off the plan, our guide below covers great tips to ensure a smooth purchase. 

Link: 'off the plan buying guide'.

OFF-THE-PLAN APARTMENT BUYERS’ GUIDE

STEP 1: EXPRESSION OF INTEREST (EOI)

•          $5K EOI deposit to the HOME789 trust account with either a bank cheque or Electronic Funds Transfer (EFT)
•          This deposit only secures you a position in the queue for the launch sale or the issue of a contract to your solicitor for a normal sale
•          The deposit is fully refundable if the sale does not proceed to contract exchange

STEP 2: CONTRACT EXCHANGE

•          Meeting your solicitor
•          Contract signing
•          Amendments agreed
•          Contract exchange
•          66W certificate to waive the cooling off period
•          10% deposit paid

STEP 3: WAITING PERIOD

•          An off-the-plan project usually takes 2 years to complete. Please wait 3 months before the property settlement, and then start the next step. During this period, HOME789 will provide you with quarterly construction updates.

STEP 4: PREPARE SETTLEMENT

•          Speak to a mortgage broker about your loan
•          Valuation inspection to be arranged by the mortgagee
•          Settlement booked through your solicitor and mortgage broker
•          Pre-settlement inspection by the purchaser, book via BuildingLink

STEP 5: SETTLEMENT

•          Once the property is settled, both of the vendor’s solicitor and your solicitor will issue a settlement confirmation to HOME789
•          Pick up the settlement package from vendor solicitor

STEP 6: REGISTERING ALL SERVICES

•          Council rates: Your solicitor will register for you.
•          Water rates: Your solicitor will register for you.
•          Strata levy: Your strata manager will look after this for you.
•          Electricity. Please set up your account with your preferred electricity provider. If the property is managed by HOME789, our property manager will do it for you, once a tenant is secured.
•          Gas. Please set up your account with your preferred gas provider. If the property is managed by HOME789, our property manager will do it for you, once a tenant is secured.