Purchase Agreement

Once a suitable property has been identified, a 2.5% reservation fee will be required. The Purchase Agreement is entered into between the vendor and the purchaser. The agreed property shall then be removed from the market, subject to a 28-day reservation agreement.

Preliminary Contract

The Preliminary Contract is entered into by the vendor and the purchaser and in doing so the requisite unit or apartment shall be reserved. On signing the Preliminary Contract, 7.5% of the purchase price is payable to the vendor's solicitors bank account. 30 days after exchange of contract an additional 10% is payable. The funds will then be transferred to the vendor's account. This fee is non-refundable, should the purchaser fail to enter into the Final Contract, and shall be deducted from the final purchase price. In the event that the vendor fails to deliver the real estate the 20% fee shall be refundable into the purchaser's nominated bank account, net of handling charges.

Final Contract

After signing the Final Contract, which shall include details relating to the property such as delivery period, price and technical characteristics of the building, the outstanding 80% is payable to the vendor. Once the Final Contract is signed and all monies transferred, the purchaser is authorised to take possession of the unit or apartment.