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Information for Buyers
BUYERS of REAL ESTATE
1. You are bidding for an exclusive option to purchase a property
at a fixed price with or without special conditions. Our unique option process removes
the risk when bidding large amounts of money over the internet.
2. As the option holder you are not committed to purchase the property but you now have the exclusive right, for a limited period, to purchase that property at a fixed price together with any conditions accepted by the seller.
3. As opposed to normal auctions where you must be a cash buyer, Property Options give you time so you can bid like a cash buyer. This is because the option lasts for 7 days and if you have due diligence then you have further time to organise finance.
4. Property Options give you time to complete initial enquiries before preparing and signing a Sale & Purchase Agreement for real estate.
5. Before the Property Option expires you complete things such as;
(a) Get indication from lenders regarding finance availability
(b) Check the property, neighbourhood & services
(c) Satisfy yourself the price is right
6. Your Property Option may include the following Purchaser Conditions;
(a) Amount of deposit
(b) Settlement date
(c) Due diligence period
(d) Sale of your own home
COMMENTS
The seller is committed only to the conditions & limited period of
the Property Option Certificate. There is however nothing to stop you negotiating with the seller
should you have any other requests. For example you may be overseas & require
the seller to extend the option expiry date. Any such matters are outside our control
and are entirely between you and the seller.
To purchase a property you or your solicitor must prepare, sign & forward a Sale & Purchase Agreement for real estate to the seller (or seller’s solicitor or agent) prior to the expiry date of the option.
BUYERS of GENERAL PROPERTY
1. You are bidding for an exclusive option to purchase property at a fixed price
with or without special conditions. Our unique option process removes the risk when
bidding large amounts of money over the internet.
2. As the option holder you are not committed to purchase the property but you
now have the exclusive right, for a limited period, to purchase that property at
a fixed price.
3. Property Options give you time to make enquiries or travel to view any property before you buy it. Now you have commitment from the seller to hold it for you for a limited period at a fixed price.
4. Before the Property Option expires you complete things such as;
(a) Sort out finance
(b) Conduct further inspection
(c) Satisfy yourself the price is right
COMMENTS
The seller is committed only to the conditions & limited period of the Property Option. There is however nothing to stop you negotiating with the seller should you have any other requests. For example you may be overseas & require the seller to extend the option expiry date. Any such matters are outside our control and are entirely between you and the seller.
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