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On entering Bellerive
All homes at Bellerive are purchased under a Loan/Under Lease agreement.
The Under Lease is registered in the purchaser’s name and lodged with the
Land Titles Office. The purchase is currently not subject to stamp duty.
To secure your interest in Bellerive, an initial $1,000 Application Fee
is required. Once this payment is received the residence contracts
will be issued to your solicitor.
The village contract consists of three different documents and the
purchase price is made up of three different payments:
Document
Payment
Amount
1. Under Lease
Rent
$8,000
2. Service Agreement
Licence Fee
$2,000
3. Loan Deed
Loan Amount
Purchase Price less $10,000
For example:
Purchase Price
$500,000
1. Rent
$8,000
2. Licence Fee
$2,000
3. Loan Amount
$490,000
You will enter into the Under Lease, Loan Deed and Service
Agreement. On execution of these documents a 10% deposit of the
total purchase price is required. The Application Fee and the Deposit
are fully refundable within the 7-day cooling-off period.
The Loan Amount is due on Settlement, usually the day you move in.
Financial information
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