my parents sold their ppor on saturday but it is subject to visa.. anyone heard of this before??
sorry if i wasn't clear about what kind of visa.. the family who bought it are from china and have purchased it for their daughter who is studying in australia.. the real estate agent informed my parents that one cannot purchase a property unless they are a resident (permanent).. he also assured them that this is common and that there should be no problem in gaining the visa..
Sounds a bit dodge, how does the agent know there will be no problems with the immigration department?
working in Real estate i have not come across it before, but you would be suprised with all the different clause people put on contracts.Are you sure that the Contract was subject to the purchasers receiving approval from the FRIB ?
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yes, i read the contract today – it also gave a time frame of 4 weeks.. the house has only been on the market for a day!! i'm afraid that my parents might be in for a rude shock..pinknic, it sounds very odd to me too..
It is quite common for overseas buyers to purchase property subject to F.I.R.B (Foreign Investment Review Board)…
It used to be that the property had to be new or at leasr never occupied… but I believe that is not the case so much anymore.
There is, of course, no guarantee that the FIRB Approval will be granted.
sounds like your parents will have to just wait & see now… unless they put a sunset clause of some kind on contract regarding visa application
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