Off the plan management rights purchase process
Below is to set out the terms on which most off the plan management
rights are sold.
1. The buyer submits a standard Expression of Interest form. If the terms of the offer do not conform to the EOI’s conditions, it will
not be considered.
2. Deposits are payable by cheque or electronic transfer. Deposits are as follows:
a. EOI: $1,000 for unit + $1,000 for business
b. Signing Contract: $5,000 for unit + $5,000 for business
c. On Unconditional: 10 per cent of unit price + 5 per cent of business price.
3. At settlement, the buyer pays for the manager’s unit + the initial fee for all completed stages (this is for the Caretaking component of the business) + any existing letting appointments achieved by the temporary on-site manager.
4. Any outstanding letting appointments are not paid for until they have been achieved. The funds to cover the cost of the outstanding letting appointments are held as a bank guarantee in Synergy International Real Estate’s or vendor's Solicitor's trust account. Outstanding letting appointments are paid for in batches of five. The buyer does not pay letting appointment fees for units that are not in the letting pool.
5. Upon settlement of any subsequent stages, the buyer draws down on the loan facility to pay for the initial fee and repeats step four.
6. Step five is repeated for any subsequent stages.
If you have any questions, please don’t hesitate to contact our office 0404331310 or email us.
1. The buyer submits a standard Expression of Interest form. If the terms of the offer do not conform to the EOI’s conditions, it will
not be considered.
2. Deposits are payable by cheque or electronic transfer. Deposits are as follows:
a. EOI: $1,000 for unit + $1,000 for business
b. Signing Contract: $5,000 for unit + $5,000 for business
c. On Unconditional: 10 per cent of unit price + 5 per cent of business price.
3. At settlement, the buyer pays for the manager’s unit + the initial fee for all completed stages (this is for the Caretaking component of the business) + any existing letting appointments achieved by the temporary on-site manager.
4. Any outstanding letting appointments are not paid for until they have been achieved. The funds to cover the cost of the outstanding letting appointments are held as a bank guarantee in Synergy International Real Estate’s or vendor's Solicitor's trust account. Outstanding letting appointments are paid for in batches of five. The buyer does not pay letting appointment fees for units that are not in the letting pool.
5. Upon settlement of any subsequent stages, the buyer draws down on the loan facility to pay for the initial fee and repeats step four.
6. Step five is repeated for any subsequent stages.
If you have any questions, please don’t hesitate to contact our office 0404331310 or email us.