Temps buying a house need FIRB approval again!

[Andrew from Vista Financial]

As of 24th April Temporary residents who are living in Australia and wish to purchase a property now need to obtain permission from the Foreign Investment Review Board (FIRB) once again.

 

There was an exemption in place if the property was to be used as your main residence but this exemption has now been lifted and approval again is required.

 

You cannot apply for approval until you have the address details of a property and so when putting in an offer to purchase the conditions should state:

 

- Subject to approval from the Foreign Investment Review Board.

 

Obviously with any other conditions that you may have ie finance, buildings inspection etc.

 

It never used to be too much bother to get approval and was generally just a formality, however it is important to get it.

 

This should answer any questions FIRB: Foreign Investment Review Board - FAQ, feel free to PM me if it doesn't.

 

 

Regards

 

 

Andy

[Guest familygood]

They don't like making life easy for us do they?!