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Step 1
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Choosing your home
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Your sales consultant will help you decide on the best location, size, style and design to suit your dreams – and budget.
· Large or small, attached or detached homes in 1, 2, 3 or 4 bedrooms designs.
· Single or double storey, single or double garage
· Recreational facilities, low-maintenance garden or courtyard, a backyard, views or parkland.
· Close to transport, parks, schools, work, relatives, shops
HINT: Talk finance up front. Find out what you can afford and stick with it.
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Step 2
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Financing
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Its time to talk to your lending institution about finance so you are ready when you decide on your dream home. Find out how your Stamp Duty can be included in your loan. Ask too about the First Home Owner’s Grant. If you are eligible, this joint initiative by the Federal and State Governments may provide you with 21,000 to help offset the costs of buying a home.
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Step 3
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The deposit
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A $1,000 deposit is required to take the home off the market for a period of 14 days. Next, you’ll complete a Request for Contract Application Form, which the sales consultant will submit to AVJennings. Upon confirmation that AVJennings will proceed, a Contract of Sale will be prepared. The balance of deposit will be required when returning the signed contract, usually 10% of the purchase price.
HINT: If you need legal representation call The Law Society of Victoria or The Australian Institute of Conveyancing, Victorian Division.
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Step 4
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Conveyancing
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Once you have decided to purchase a property, one of the first things to do is appoint a solicitor or conveyancing agent and advise your sales consultant. The solicitor/conveyancer will liaise with AVJennings and arrange the transfer of property ownership and all necessary information required by your lending institution
HINT: Ask your legal representative to provide a conveyancing quote and what that includes.
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Step 5
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The contract
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The sales consultant will arrange to meet with you to present and explain the Contract of Sale. Once you have received the contract you need to make an appointment with your solicitor/conveyancer to discuss the contract. Take into account that it may take up to 5-7 working days for your solicitor/conveyancer to receive the contract. Make an appointment for a time after that.
Your solicitor/conveyancer will explain the contract to you.
Within 14 days of the contract being issued, you should exchange contracts. This involves signing the contract and paying the balance of deposit. The payment is to be given to the sales consultant, who will forward it with the signed contract to the Conveyance Manager acting for AVJennings.
First Home Buyers who want to receive the $21,000 Grant should ensure they exchange by 30 June 2009.
HINT: Once you have exchanged contracts, there is no going back. So ask lots of questions and be very sure.
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Step 6
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After the exchange
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Excitement is building. AVJennings will write and advise you of the progress of the home. Nearer to completion, a Customer Service Officer will call to arrange an inspection of the home prior to settlement. Remember, due to work safety regulations, access to the home is restricted and can only occur when accompanied by an AVJennings representative.
HINT: At least 5 days before you move in, advise gas, electricity, telephone services and council (Bin Provisions) of your occupancy date.
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Step 7
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Settlement
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When building is completed and the plan of the subdivision is registered and approved by the Land Titles Office, its time to settle. The balance of payment is due on settlement, generally up to 4 weeks or 14 days after your solicitor/conveyancer has been issued with the subdivision registration and building final certificate, which ever is later. Your solicitor/conveyancer will contact your lender to confirm settlement details and arrange transfer of funds. The customer service officer will call and arrange a time for you to meet with an AVJennings representative to welcome you to your new home.
HINT: Call the removalist, chill the champagne.
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Step 8
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Home
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Welcome to your new home. An AVJennings representative will provide you with your Handover Kit. The Handover Kit contains important information about your new home in addition to remote devices (when applicable), window and door keys, letterbox keys, warranties and manuals. Congratulations!
HINT: Put out the welcome mat – welcome to your neighbourhood.
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