How to buy property in QLD ?

Viewing 6 posts - 1 through 6 (of 6 total)

TaylorChang
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@scha9799
Join Date: 2009
Post Count: 234
November 5, 2014 - 1:15 am
Hi all,
In terms of the process, how to purchase a property up in QLD ?
Sorry, it sounds like a silly question….
In NSW, a buyer can request a contract from an agent ( seller or seller’s representative) prior or at the open home inspection.
In the contract, a buyer can see what the restriction or potential development for the property.
A buyer can confirm with the council to see if a potential development is possible for the property.
Normally, a buyer can put down 0.25% of the price as a holding deposit to take the property off the market. if the buyer decided not to go ahead with purchase, then the buyer will loss 0.25%.
If the buyer decide to go ahead, after 5-10 days, the buyer pays another 10%, then the contract goes unconditional. after 42 days property settled.
Is this the same process as how people checking development potential and buying in QLD ?
TaylorChang | Finance Broker
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PHP
Participant
@php
Join Date: 2014
Post Count: 111
November 5, 2014 - 11:07 am
Hi scha9799,
Most of the process you mentioned is similar, just different documentations. In QLD, its 30 days settlement for the normal sale.
Im sure the rest with much more experience in QLD buying/selling process will try to help you out on this.
Cheers!
PHP | Mortgage Station Pty Ltd
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Richard
Participant
@richardppiadvice-com-au
Join Date: 2014
Post Count: 20
November 5, 2014 - 11:21 am
One difference is the offer process. If you put an offer in and its accepted, you are in contract and its handled by the RE Agent. There’s no exchange of contracts like in NSW. so ensure you have your contract terms in place when you make an offer.
LMR sites (low/ medium residential development) are in high demand in Brisbane (if this is the market you are considering?), you will likely need a buyers agent (BA) to access a site. A lot of transactions are occurring off market. Having lengthy due diligence terms in the settlement period is not likely to work either. So having a team to quickly qualify the site, means your settlement terms are simple, giving you a much better chance to secure a site.
Richard | PPI Investment Advice
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PHP
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@php
Join Date: 2014
Post Count: 111
November 5, 2014 - 6:00 pm
using a BA in QLD is a good idea. especially if you are not familiar with the place. Like Richard said, most of the transactions are done off market and only those with good connections will have access to this deals.
PHP | Mortgage Station Pty Ltd
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kerrie
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@goldsmith
Join Date: 2014
Post Count: 1
November 6, 2014 - 11:52 pm
Hi I can help you with your questions as I am a real estate agent in Qld. <moderator – delete advertising>
PHP
Participant
@php
Join Date: 2014
Post Count: 111
November 7, 2014 - 7:38 am
There you go.. another person keen to help.. if you are not sure about anything. u can always come back here and post questions.
PHP | Mortgage Station Pty Ltd
http://www.mortgagestation.com.au
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Give us a call or send us an email for a free residex report.