Here at McCloy Group we establish a trusted presence within each individual community creating places in which people love to live. The company values community focused living where people feel safe and secure in friendly neighbourhoods. Our communities are geared towards owner occupiers and buyers express confidence in our projects and the capital growth they promise. Many people buy their family home in our communities and stay within the community when it’s time to upsize. In order to ensure this continues we have implemented a clear ‘Steps to Purchase’ guide as follows:
STEP 1 – RESEARCH
Do your research and find a suitable legal adviser whether it be a conveyancer or solicitor. Source financing options and a lender that is right for you. Speak to builders and find a home design that suits your budget and lifestyle.
STEP 2 – PURCHASER QUALIFICATION
To ensure you’re ready to secure a homesite, purchaser qualification is required. Arrange a suitable time to meet with our friendly Land Sales team, either in person or virtually, to discuss your options and cover any relevant questions.
Potential purchasers are not able to proceed to step 3 (holding deposit) without completing the purchaser qualification step, which includes:
• Purchaser intends to enter into a contract for a place of principal residence as an owner occupier upon the receipt of the Occupation Certificate.
• Purchaser demonstrates an intention to enter into a building contract for the construction of a single dwelling home. View the Design Guidelines here.
• Confirmation that the purchaser fully understands their obligation to complete the installation of a driveway, letterbox and landscaping in accordance with the Design Guidelines, in turn adding value to their home and contributing to the pride of their community.
• Verification of purchaser identity by the Land Sales team, including the provision of any information or identification documents reasonably required to satisfy anti-money laundering and counter-terrorism financing (AML/CTF) requirements.
STEP 3 – CONTRACTS
Once a sales advice has been completed by the Land Sales Consultant and the holding deposit has been received, the contract will be issued to your legal adviser. Contracts are usually issued within 2-3 days. You will have 21 days from the date the contract is issued to have a look through the sale contract with your legal representation.
STEP 4 – EXCHANGE
Contracts should be exchanged as soon as practically possible within 21 days from the date of issue. If contracts are not exchanged within this period, the lot will be placed back on market and made available to other purchasers.
If the land is not yet registered, you will only need to pay the balance of your 5% deposit less your $1000 holding deposit. If the land is already registered then a 10% deposit will be payable.
STEP 5 – SETTLEMENT
Once exchanged, contracts should be settled as soon as practically possible:-
* If the land is registered, settlement will be within six (6) weeks of the date of exchange
* If the land is yet to register settlement will be within six (6) weeks of the date of exchange or 21 days from the
date of registration, whichever is the latter.
The balance of your payment will be due upon settlement.
NOTE: This information is for prospective or current purchasers and is of a general nature. For further legal
information, please seek the advice of your solicitor or licensed conveyancer.