|
Overseas Buying
The Southern Highlands needs very little introduction, both to Australians or overseas tourists or investors.
For the latter group - which is steadily growing as investors become aware of the Highlands close proximity to the 4 million plus population of Sydney and closeness to Canberra - that forms an integral part of the Southern Highlands business scene as they invest in agricultural, vinicultural and horticultural pursuits.
Australian Foreign Investment Policy
The Australian Government's approach to foreign investment is to encourage investments which are consistent with community interests.
In recognition of the contribution foreign investment has made and continues to make towards the development of Australia, the general policy stance is to welcome foreign investment.
For detailed information concerning Australia's foreign investment guidelines, visit the Foreign Investment Review Board website below.
Useful Links
Bidding at Auction
There are very strict laws regarding bidding at auction in NSW and all of which come under the Property, Stock and Business Agents Act,2002.
Some of the key points you must observe are that:
- all bidders must be registered to bid at the auction- this means that you, or the person bidding on your behalf, must produce identification, including a photograph of that person. This can be a Driver's License or Passport. Should you have someone bidding on your behalf, they must have a letter or Power of Attorney (both of which must be sighted) from you authorising them to do so. If this is not in place it means that the person bidding on your behalf will be liable for the funds to complete the sale.
- on the fall of the hammer, the property is sold - this means that if you are the highest bidder when the auctioneers gavel falls, then you have purchased the property and there is no withdrawal from the sale.
- 10% deposit must be paid on the fall of the hammer - most auction contracts state that a deposit equivalent to 10% of the purchase price must be paid when the property is sold to you
|
