With this method of payment the potential owner eliminates all Bridging Finance and lessening any interest fees to a bare minimum.
If building on your land
10% deposit on the signing of the Contract;
20% when the floor slab is in place;
15% when the ring beam is in place;
20% when the roof is in place;
25% when the windows and external doors
10% on Practical Completion.
Steps for buying a house
If buying cash
Establish what you want to spend on a property
Allow for legal fees of approximately 2% on the land cost only
Consider any finishes which may not be included in the price that you may need
Select your Lot and a Plan that fits within your budget
Pay down $2,500.00 non refundable deposit (so we can take the lot off the market)
We provide you with an Offer Letter setting out our proposal
You return the Offer Letter signed in acceptance
We prepare the Contract document for your perusal and signature on which you pay in the 10% Deposit.
If you are using a financial institution
Determine if doing the purchase alone or with a spouse
Contact your financial institution about how much you qualify for.
Allow for legal fees on the mortgage and on the land purchase of approximately 2%
Consider any finishes which may not be included in the price that you may need
Select your Lot and a Plan that fits within your budget
Pay down $2,500.00 non refundable deposit (so we can take the lot off the market)
We provide you with and Offer Letter setting out our proposal
Your Offer Letter is taken to the financial institution……
They will issue you with a Letter of Commitment, this would indicate how much and on what terms they are prepared to lend you. Always negotiate the best deal for yourself
You return the Offer Letter to us signed in acceptance.
We prepare the Contract document for your perusal and signature on which you pay in the 10% Deposit
If the Loan is 100%, the 10% deposit will come from the institution. You must follow them up closely.
We then request the balance of the funds/90% on completion of the home. You are then handed the keys to your new home