| Step 1 :
Check the properties available for sale. |
| Check out
property information through the websites, e-mail
news, newspaper etc. provided by the qualified
real estate agencies and find out the interesting
properties for you. |
| Step 2 :
Contact the real estate agencies. |
| Make sure
with the agents about the properties you are
interested in to get more detailed information
about the properties, investment details, and
purchasing process. |
| Step 3 :
Pay the fully-refundable holding deposit. (If
necessary) |
| If
necessary, pay the refundable holding deposit to
keep the property you are interested in off the
market for some specific period to give you some
more time to make a decision. |
| Step 4 :
Find your solicitor to check the contract. |
| You can
ask the real estate agent to find out your
solicitor if you do not have. It is extremely
important to check the legal documents and
contracts with your solicitor. |
| Step 5 :
Sign the sale contract and the other required
documents. |
| If the
properties you would like to purchase is new
developments, you cannot exchange the sales
contract until the development approval is
granted. |
| Step 6 :
Pay the deposit. (usually 5% or so) |
| Deposits
are required after signing the contracts.
Deposits are transferred to the vendor, and the
deadline for complete settlement is fixed. You
usually are given the enough time to organise
your finance. Make sure about the construction
schedule and progression reports. (in case of new
developments) |
| Step 7 :
Proceed registration of title and settlement. |
| Once the
building is complete (in case of new developments),
registration of the property will be taken care
of by your agent. Normally, settlement balance
should be paid to the trust account of your agent. |
| Step 8 :
Find the management company (or staff). |
| Management
company handle your property for letting. |
