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OVER THE COUNTER SALE PROCEDURES LAND RENT DEPOSITS MULIPLE BLOCK

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OVER THE COUNTER SALE PROCEDURES LAND RENT DEPOSITS MULIPLE BLOCK Powered By Docstoc
					                         OVER THE COUNTER SALE PROCEDURES
                                          (December 2008)

Land is now available for sale in Bonner and Ginninderra Ponds. Available blocks for sale will be
listed on www.lda.act.gov.au and will be updated regularly.

Enquiries regarding the blocks for sale may be directed to the LDA Land Sale and
Information Centre at Harrison on 1800 777 952 or the LDA’s Kingston Office on 6205 0600.

LAND RENT

The opportunity to enter into a Land Rent contract is available on blocks of land for sale directly
from LDA. For further enquiries and eligibility requirements please visit
www.actaffordablehousing.com.au or email land.rent@act.gov.au

DEPOSITS
For a standard Sales Contract a $1,000 holding deposit will be required to secure the right to
purchase the block. Exchange of Contract and 10% deposit is required within 21 days. Only one
deposit per block will be accepted at any one time and appointments can be made with a Sales
Officer, although specific blocks will not be held for appointment times.

For a Land Rent Sales Contract no holding deposit is required but other eligibility requirements
may apply. For more information please visit www.actaffordablehousing.com.au

MULIPLE BLOCK PURCHASE
No multiple block sales will be undertaken at one time in the event that there is more than
one person purchasing a block. For purchasers intending to purchase multiple blocks of land,
one block can be acquired and then the purchaser must wait until other purchasers present have
selected their block before obtaining another block. A $1,000 deposit will be required per block with
en exchange on the balance of 10% deposit within 24 hours of the time of selection.

Payments for holding deposits can be made only at the LDA Kingston Office. Eftpos, credit card
and cheque are acceptable.

EXCHANGE
Contracts for Sale will be sent to Chamberlains Law Firm who will contact the purchaser’s Solicitor
to arrange Exchange of Contracts and receipt payment for the 10% deposit.

SETTLEMENT DATES
Settlement will occur 42 days from the date of the crown lease being forwarded to the purchaser
and is referred to in clause 3.3 of the Sales Contract (this excludes Land Rent Purchasers).

STAMP DUTY
Stamp Duty is payable on all blocks of land within 90 days of exchange for land that is not currently
ready to build on. For land that is ready to build on, this needs to occur before settlement. For
information regarding Stamp Duty Concessions contact ACT Revenue www.revenue.act.gov.au


   LDA strongly advises that potential purchasers seek legal and financial advice
            before entering into any contract for the purchase of land.

				
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