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Your Guide to Buying a Property in Brettenwood Coastal Estate

Buying property in an estate that is approaching being fully developed with the reputation Brettenwood has, makes for a sound investment. Our onsite team will make purchasing a property a pleasure and go out of their way to find you your dream home. With extensive knowledge of Brettenwood we will give you sound advice on the properties for sale, conduct rules, security and what Brettenwood has to offer.

1. The first step in purchasing a property is to identify what you are comfortable investing in a property.

2. Once a property has been identified and the sale price agreed upon, the seller and buyer will sign an offer to purchase. This is a binding contract that forms the basis for the transaction.

3. In the agreement of sale, the method of payment will be indicated with timelines within which to perform such. A 10% deposit is usually required, with guarantees in place for the balance of the purchase price.

4. Guarantees may be secured in the way of a bank guarantee or by letter confirming finance approval from a registered bank.

5. If finance is required by the purchaser, they may engage with their bank or a bond originator who will require the the signed OTP. This process may take 1 to 2 weeks.

6. FICA is required and will vary depending on what capacity the buyers choose to purchase the property. The agent assisting will go through this with you when completing the OTP.

7. With the OTP signed, deposit paid, guarantees in place and all FICA documents in place, the conveyancing process will begin. This process could take 6 to 10 weeks until the property is successfully transferred to the new owner’s name.

8. Using a conveyancer that has dealt with transfers of property in Brettenwood is advisable as they know the process that is required by Brettenwood.

9. The conveyancing attorney will request a rates clearance certificate on the property from Council and levy clearance will be issued from the Homeowner’s Association. When all accounts have been settled the conveyancing attorney will prepare and assemble the required documents.

10. A power of attorney will be signed by the purchasers giving the Conveyancing attorney signing power on the seller’s behalf.

11. The conveyancing attorney will contact the buyer for the transfer costs and any other costs that may be due and instruct payment.

12. Documents will then be lodged with the deed’s office for a Deeds Office to examine which takes 7 to 10 working days.

13. On registration, change of ownership will take place and funds are transferred.

Communication from your agent and conveyancing attorney makes for a pleasant transaction.

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