Buying

First Home Loan Deposit Scheme (FHLDS)

Fitzpatricks - 07/01/2020

As of 1st January 2020, first home owners are eligible to apply for the first home loan deposit scheme, an initiative of the Australian Government to help first home owners purchase a home sooner. The grant provides โ€œa guarantee that will allow eligible first home buyers on low and middle incomes to purchase a home with a deposit of as little as 5 per cent.โ€ …

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What happens at Settlement?

Fitzpatricks - 03/01/2020

This is the conclusion of the sale process and usually takes place approximately 28 days after contracts have exchanged. This time frame can be negotiated between the purchaser and vendor via your solicitor upon the signing of the contract prior to exchanging contracts. Once the property reaches the settlement date, the balance of the purchase price must be paid and the purchaser becomes the legal …

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