How to Buy
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Choose one of the following Contract types:
- A Single-Contract “Home (Villa) and Land Package”. This is a “turnkey” package with all landscaping included and furniture packages available so that your home is ready to move in (and/or rent-out) the day you take ownership. A Single-Contract gives you the convenience of paying only a 10 % deposit up front on the total price and the balance on completion of the villa when the Occupation Certificate has been issued.
- A Split-Contract, i.e. separate Land and Building Contracts conditional upon each other and signed at the same time, where the land is settled first and then building is paid off in staged payments during the construction process. A Split- Contract gives you substantial savings on the overall cost but requires the land and villa to be paid for in separate stages. You pay a 10% deposit on the Land Contract and 5 % on the Build Contract, both of which are signed together. The land is settled within 4 weeks of paying the deposit. Construction of your villa will commence within 4 months of signing the Building Contract. Staged payments will be made to the builder as the construction progresses.
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Sign an Expression of Interest and pay $ 2,500 to “Law Elements Trust Account”. (Bank details will be provided). This secures the lot you’ve selected. Once the lots are formally released onto the market. You will then have 5 working days to confer with your family, accountant, etc. and decide whether or not to proceed. If you elect not to proceed your deposit will be refunded in full.
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Sign an Agreement to Purchase and pay an additional $ 2,500 deposit either to “Law Elements Trust Account” if opting for a Single-Contract or to “Niramaya Homes Trust Account” if opting for a Split-Contract.
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Within 5 business days of receiving the Sales Advice, Law Elements will issue to your solicitor either:
- a Single-Contract, or
- a Split-Contract.
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In the case of a Split-Contract, staged payments will be made as the build progresses, as per the following schedule:
a) Site Establishment: 5 %
b) Slab Complete: 10 %
c) Block Walls, Windows & Structural Steel Complete: 15 %
d) Exterior Veneer (Rendering): 10 %
e) Roof Cover Complete: 20 %
f) Internal Fixing Complete: 15 %
g) Painting, Tiling and Joinery: 10 %
h) Practical Completion: 10 %
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