Foreign Investors Guide to Buying Property in Australia
GUIDELINES TO PROPERTY INVESTING IN AUSTRALIA
This simple guide has been developed to provide you with all the information required to successfully buy property in Australia.
Select your choice of Apartment or House and Land Package
Silver Properties Australia offers a range of Apartments and House and Land packages (BUNGLOWS) available that you can choose from.
Seeking FIRB Approval if required.
If you are a Non-Australian resident or temporary visa holder, it is legally required to get permission from the Foreign Investment Review Board (FIRB) to successfully buy property in Australia. Obtaining FIRB approval is a simple process, which our team can assist you with.
Exchange Contracts and Pay your deposit
Our team will send through the contract of sale and payment details of the selected property to the interested buyer. You can sign your contract after your solicitor or conveyancer gives you the go ahead. Normally you will need to put down a 10% deposit. The amount of the deposit is negotiable and differs between the states. Once the contract has been reviewed and signed it will need to be sent back to us. We will need the signed contract along with an initial deposit payment of 10% for off the plan apartments (Under Construction). The payment/cheque will need to be drawn in the solicitors trust account of the developer.
Settlement and Property Possession
Settlement is the term given to when the property actually changes hands and your loan is advanced. This will be handled by your conveyancer or solicitor in conjunction with your bank & mortgage broker, you don’t need to be there for this to happen.Once the project is ready for occupation, the balance 90% payment will be required for the final conveyance, after which the title will be issued in the buyer’s name.
Our financial team can assist you in seeking finance (loan) from local banks. The team specialises in lending to foreign investors, Permanent Residents of Australia, Foreign Citizens living in Australia (Temporary Residents) and prospective Spouses or Defacto partners of Australian Citizens. Finance (loan) of up to 80% can be obtained depending on your financial serviceability.
Managing the Property.
We can further manage your investment by assisting with leasing out your property.