1) When should I sign the Contract of Sale if I decide to purchase the property?

You can sign the Contract of Sale once you are happy with the property and the price that you wish to purchase. Depending on your level of knowledge and experience, you should forward you contract to your appointed solicitor to ensure that you do not miss any important clauses which may have a significant impact on your settlement. Settlement usually takes place at 30/60/90/120 days from the signing of the Contract, or on the date mutually agreed by you and the vendor.

2)  How and when do I organise my finance and settlement of the property?

You may already get your finance pre-approved from your lender before signing a Contract. If you are still waiting for the finance, please make sure the contract you sign includes a “finance clause” which gives you time to arrange it or void the contract if the finance is not approved. We can assist you in finding and dealing with the lenders even while you are overseas.

If your finances are not arranged properly, settlement may be delayed in which case may trigger extra penalty interest.

3) What do I do after sign the contract of sales?

You should instruct the selling agent to forward your Contract to your appointed solicitor. Your solicitor will go through the settlement with you including the FIRB approval if you are an overseas buyer.