Guide to Buying off the Plan at Tulloch House
Buying off the plan
Some purchasers may not have bought a property ‘off the plan’ before. It can be a straight forward process and often there are benefits that you may not have considered. The Mirvac team is here to guide you through the process from getting ready to sign your contract, to the settlement of your new home and through to maintenance period.
Understand what you're buying
Purchasers who intend on living in their new home can be daunted by the prospect of buying it off the plan. While it can be harder to visualise what the end product will look like, Mirvac endeavours to inform customers as much as possible during the sales process. We will provide detailed off the plan contracts and full disclosure statements for your Ascot Green apartment. This protects customers by clearly stating what is being purchased and what will be included. Floorplans help to assist in the planning of furnishing and styling your new home.
Signing your contract
Once you have chosen the property of your choice with a Sales Consultant and you have signed your contracts, these will be countersigned by Mirvac. We will then forward them to our Solicitor who will on-forward them to your nominated Solicitor, conveyancer or you (if self-acting). At your contract appointment, you will need to finalise your colour selections and any additional upgrades for inclusion into your contract documentation.Your Sales Consultant will assist you in completing the necessary documentation.
Paying your deposit
Buying a property off-the-plan usually requires the payment of 10% of the value of the contract price. Deposits are secure, being held in a solicitor’s trust account with interest earned on your deposit paid to you at settlement. This is commonly paid in via a direct deposit, cheque, bank guarantee or deposit bond with prior approval. If you are unfamiliar with bank guarantees or deposit bonds, your Sales Consultant can provide you with information outlining the correct requirements for using these to secure your property; or speak to your bank to discuss what options might be suitable for your circumstances.During this period, it will be necessary to obtain your finance approval, if applicable.
From contract signing to construction completion
During construction, you will be sent updates of Ascot Green so you can see your building take form, from basement works through to building completion. Once your contract becomes unconditional, you will be contacted by Mirvac’s Settlements team. During the construction period you will be kept updated of key dates and any other relevant information about the progress of Ascot Green.Prior to the completion of your new apartment, we will start to send information to assist you in the lead up to settlement. This will include such information as your handover inspection, a moving in guide and any information to make your settlement as seamless as possible.Prior to settlement you will be able to view your apartment at the handover inspection. This presentation will provide you with a brief introduction to the facilities of Ascot Green as well as an overview of your new apartment.
Settlement of your apartment
At your handover inspection, a completion certificate will be filled out. Mirvac will instruct the solicitors to proceed with the settlement of your property.After settlement, Mirvac’s Customer Maintenance team will assist you with any questions you may have. All Mirvac properties come with a six month maintenance period, giving many of our purchaser’s peace of mind. The Maintenance team will also explain more about this six month maintenance process at your handover inspection along with any warranties and care guides for your new home.