Hi James, 3 weeks should work out fine with me, I work fulltime in land conservation and management so week ends are prefered. Take some time to read notes on purchase, hope this informs you further.
Notes on Purchase or Rent of Land/House Packages at Eden Creek
Purchase of Land & Low Cost House Package Using Vendor Finance
Minimum 10% deposit to pay GST. Not enough deposit? See below under Rent..with a View to Purchase..
Free assistance is available for self conveyancing. This can save you up to $2,000 in legal fees. There are small costs for legal materials and lodgments of documents. Stamp duties may apply. Check details for First Home Owner Grant with NSW Office of State Revenue.
Loans are available at 8% per year (as at 1.7.2010), variable interest rate for Terms up to 11 years.
A Registered Mortgage is lodged on the Certificate of Title of 1/22nd share of the Tenants in Common Title.
Repayments can be capped for the first 2 years. Minimum weekly capped payments of $200 for loans up to $100,000; $300 for loans up to $140,000; $400 for loans up to $180,000 & $500 for loans up to $220,000.
Vendor Finance is available to buy a shed, caravan, kit or owner built home for start up accommodation.
Annual Rates for the property are initially set at $11/week and paid on time or in advance for a discount. Late payment charges apply on overdue Annual Rates. These pay Council Rates, insurances, maintenance, etc.
Rent of Land & Low Cost Structure with a View to Purchase Using Vendor Finance
6 weeks Security Bond - released to Arcadian Visions Pty Ltd. Refunded at the end of the Lease if applicable.
Lease Agreement for fixed Term – long enough to pay 10% of land/structure package value.
For example – land/structure package costs $120,000 plus GST of $12,000. Weekly payment on $132,000 = $348. It will take about 34 weeks (8 months) for the deposit to be paid at this weekly amount. This can be capped at $200 per week for the 60 weeks (14 months) it will take for the deposit to be paid. An extension of this capped amount is negotiable.
Council will require a fee for a permit for temporary occupation of a structure. It allows you 1 year to obtain a Construction Certificate for a permanent dwelling. An extension may be permitted for a further fee.
Rent is determined by the amount due if you were purchasing the package you occupy. See 5 lines above.
Annual Rates of $11/week are paid on time or in advance for an incentive discount. Late payment charges apply on overdue Annual Rates.
When 10% of the purchase price is paid as rent in up to 14 months, then purchase can occur. All rent payments are applied to the Loan at this point.
Minimum weekly capped rent is $200 for land or packages up to $140,000; $300 for up to $180,000 and $400 for up to $220,000.
Centrelink recipients, who move into a shed, caravan or low cost home on the land, may receive Rent Assistance of around $40 per week until they are able to accrue the 10% deposit. They then can opt to purchase. Rent Assistance will then cease.
General Notes
This Community is themed around green-tech and Landcare practices; light eco footprints; a sanctuary for wildlife; food, water and financial securities and social and spiritual consciousness.
Purchasers and tenants of the land will have all weather 2 wheel drive access to all sites.
Water is available from the Common Dam until homes with tanks and private dams are constructed.
Solar power stations are planned to provide 7Kwh per day to each house site in the 2 forest clusters. Power is provided in the price of forest cluster sites
Grid power and phone landlines are an option for those who choose to pay the extra costs to get inground cables to their sites.
The purchase price provides from 2 to 10 acres of house site land for individual management and dwelling occupation rights and around 71 acres of common land for the management and enjoyment of all owners.
22 lots of river flats of 1000 square metres (1/4 acre) for permaculture purposes are available for additional purchase at around $8,000 each to all owners.
Proceeds of these sales are dedicated to constructing the Community Building. They will be held in a Community Bank account.
These proceeds can be used as an internal source of loan funds for community members, as well as prepaid Annual Rates when there is a surplus in the Community Bank account.
Council will require around $6600 when granting consent to Construction Certificates for home building and occupation. Arrangements to pay these Section 94 Contributions over a period of time can usually be negotiated. Internal loans may be available from the Community Bank funds as well.
