PRINT PAGEPhase 1 – first 30-60 days:
Once you have selected your property, a reservation form will be completed and sent off to the vendor to hold that property for you. A reservation fee will then need to be paid (usually $1,000 – $5,000) into the developers trust account to formally secure the property until the balance of the deposit payment is paid.
A trust account receipt will be provided to you.
A meeting will be organised to go over the contracts and sign in the relevant places. A scanned copy of the signed pages will be emailed to you for your records.
The completed contracts will then be sent to the vendors to execute.
Your nominated conveyancer will receive a full copy of the contract.
You will receive correspondence from your conveyancer with their cost agreement and offer to act on your behalf for this purchase. You will need to respond with your acceptance of this within 14 days.
Once your conveyancer has received your acceptance to act, a summary of the contract will be provided to you and a full copy of the contract will also be provided to you in due course.
When the contracts are signed, you will also meet with the mortgage broker to organise finance options, if needed for your deposit payment.
Your deposit payment will be due either 30, 60 or 90 days from signing of the contract depending on the vendor’s requirements.
The broker will provide a checklist of documents required to get your finance underway. It is imperative that the required documents are compiled and sent to the broker in a timely manner to avoid any unwanted delays in getting your finance approved.
Once you have funds available you will need to pay the deposit (usually 10% of purchase price) into the vendors trust account. If a reservation fee was paid, this can be deducted from the 10% and only the balance will be due to complete the 10%. (For Self-Managed Superannuation Fund (SMSF) purchases, please contact Solid to organise refund of reservation fee at this point).
A trust account receipt will be provided to you.
Solid will provide regular construction updates to you up until settlement occurs.
Important: Please contact Solid if at any time you have a change in circumstance.