All Topics / General Property / Selling Off The Plan
I got unique and very beautiful luxury properties for a very niche market that I want to sell in Australia. I have not found homes like this in the country. But I am not familiar with the Australian property procedures. I am not residing in Australia and therefore wanted to tie in collaboration with an agent in Australia to sell these properties for me – and I would then complete the project:
My problem is mainly to resolve the payment process since funding need to be covered through a pre-sale.
1. I have recently signed with a new manufacturer abroad that will make the luxury homes super eco-friendly. It will also allow me to bring the absolute highest quality homes all the way to Australia. Are there any regulatory restrictions for this?
2. I understand that payments for Off the plan properties are generally only a small deposit of 10%. In my case because I rely on most of the supplies and completion abroad, which is then shipped over since it's not really available in Australia itself – I need 50% of the property sale price up-front to be able to complete the sale and start completing the work (I have to pay the licensing rate to the architect to release the plans, have the pre-engineering prepared, manufactured and paid, order all custom features, hire local contractors to do the foundation, etc.). The shipping takes a few months so to get everything done asaps and be within competitive time-frame of other developers, half down payment is necessary with remaining balance due on the handing of keys. Is this possible or will this high upfront cost deter or confuse buyers?
3. I am not familiar with the sale/purchasing process in Australia. Would it be normal and acceptable to ask the agent to handle all buyer communication, contracts, procedures and paperwork – and for me to liason only with the agent rather than the client direct?
4. Are payments for pre-sale issued to the builder, or is it normal to demand Escrow Accounts?
5. I will complete the project with a combo of overseas engineers and builders specializing in these homes, with a local developer managing all preparatory work, and project manage the development according to local regulations. Is there regulations that would delay or hinder the use of a foreign core team?
Payments for pre-sales go into a solicitor's trust account.
You use solicitor's and agents in combination to liase.
RPI | Certus Legal Group / PRO Town Planners
http://www.certuslegal.com.au
Email Me | Phone MeProperty Lawyer & Town Planner
Hi Tinim,
Are you selling any thing like this;
http://www.rebonline.com.au/breaking-news/5858-what-home-will-agents-be-selling-in-50-years
We as Real Estate Agents would handle all buyer communication, handle contracts, advise you on procedures and paperwork with help of a solicitor or lawyer.
I recommend DA Patterson Partners 02 9631 6200 [email protected]
Hi Tinim
Which State are the properties located ?
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Dear Jhai
Thank you for your kind response.
Our properties certainly meet many of the items listed in the article – except these homes are not smaller, but very generously sized and are luxury homes.
We are currently working to have them engineered in Europe to give them 5-star efficiency capacity – the highest on the market. That means buyers can slash their energy bills to rock bottom.
We are looking to tie in with some great estate agents on all locations through Australia. But what we need is someone to handle everything for us there, legal, compliancy, contracts, collecting payments from beginning to completion of the project.
If you want to see images of some of our buildings, send us your email contact.
Hi Richard!
The buyer chooses the location. We build them anywhere they want to be and bring our business to them. So if we have an agent rep in say NSW who can put together 2-3 options of land + house package their buyer can chose from, we (my international team) build the homes there. It's a bit unusual but we enjoy it. And we won't risk having to spend huge costs upfront in areas we are not familiar with.
Cheers and best!
Hi folks
Just wondered how you do a good research for a suburb, population, trend(which type of property is popular) and due diligence.
What I mean by research is not superficial one but thorough one.
I know it is quite vague question but i don't have much ideas of it and reckon it's the most essence of the game.
Cheers
sorry ignore above posting as i am the first timer here.
cheers
Why? It's a good question, whether you are newbie or not.
You must be logged in to reply to this topic. If you don't have an account, you can register here.