Hi All, Just wondering if anyone has recently bought a land with 5% deposit around Melbourne areas? If not, does anyone know of estates that still accept 5% deposit for land and allow and/or nominee clause? Thanks
Are you needing to borrow the remaining 95% ? If so - it's quite a risky proposition as there's not a whole lot of lenders that would be keen to hand over the money. Cheers Jamie
Previously the developers were taling 5% deposit. I myself have booked a couple of lots. However, since the demand has grown past the available stock, almost all the developers have syarted asking 10% to secure a lot. Many have also now started to ask 5000 upfront amoint in place of 1000. Regards
You 'buy' it when it titles and you settle on it. Till then you've just put in a 'holding' deposit of 5%/10%. Most estates ask for 10% these days. Most reputed, big name developers are allowing nominations to immediate family members only. Instead of making 10k, 20k in bits and pieces here and there, study up the strategies of seasoned investors on this forum and build a portfolio of real property. This is where real wealth lies.
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