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AVJennings - ACT - Buying an Apartment


Follow our easy step by step guide to buying an Apartment with AVJennings. Click here to download a brochure >>


STEP 1: Choosing your apartment.
Your Sales Consultant will help you decide on the best location, size, style and design to suit your dreams – and budget.
  • Large or small, 1, 2, 3 or more bedrooms
  • Contemporary design
  • Quality inclusions
  • Close to transport, parks, schools, work, relatives, shops
Hint: Talk finance up front. Find out what you can afford and stick with it.


STEP 2: The deposit.
A $1,000 deposit is required to take the home off the market. Next, you'll complete a Purchase Application Form for AVJennings to draw up the Contract of Sale.You then pay the balance of the deposit (10% of total purchase price including GST) to your solicitor/ conveyancer on exchange of contracts within 14 days.
Hint: If you need legal representation call The Law Society of NSW or The Australian Institute of Conveyancing, NSW Division.


STEP 3: Conveyancing.
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 representation to provide a conveyancing quote and what that includes.


STEP 4: Financing.
It's time to talk to your lending institution about money. 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 NSW Governments will provide you with a non-means tested gift and Stamp Duty concessions. Conditions do apply and you can check these at www.osr.nsw.gov.au
Hint: To estimate your Stamp Duty, visit the website above. First home buyers are exempt from Stamp Duty on property purchase, subject to property value.


STEP 5: The contract.
Make an appointment with your solicitor/conveyancer to discuss the contract.
Take into account that it may take up to 3-5 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 the 10% deposit. Give the payment to your solicitor/conveyancer, who will forward it to the solicitor acting for AVJennings with the signed contract.
Hint: Once you have exchanged contracts, there is no going back. So ask lots of questions and be very sure.


STEP 6: After the exchange.
Excitement is building. AVJennings will write inviting you to explore the range of carpet samples* and choice of colour*.
And once you have exchanged, it is at this time that a Customer Service Representative will call to arrange an inspection of your home prior to settlement. Remember, due to work safety regulations, access to your home can only occur when accompanied by an AVJennings representative.
Hint: At least 5 days before you move in, advise gas, electricity, telephone services and home building & contents insurance company of your occupancy date.


STEP 7: Settlement.
When building is completed and the plan of the subdivision is registered and approved by the Land Titles Office, it's 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 occupation certificate, which ever is later. Your solicitor/conveyancer will contact your lender to confirm settlement details and arrange transfer of funds.
Hint: Call the removalist, chill the champagne.


STEP 8: Home.
Once settlement has been finalised, your customer service representative will confirm a time for you to collect your keys from an AVJennings office.
Hint: Put out the welcome mat - welcome to your new neighbourhood.