Guest caoimhe

FRIB Approval

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    Guest caoimhe

    I know if on a temp visa we will need to apply for FIRB approval to buy a house but I was wondering if any knows if we can apply from UK once we get the visa or do we have to wait until we get to Australia.

    Is the approval for ANY house or do you apply for approval for a SPECIFIC house

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    Hi Guys,

     

    You can apply from overseas but your application has to be for a specific house/land/business.

    It is possible to do an application in advance for a property that is being auctioned that you are bidding for, but you will require information on the plot of improved land and provide your maximum bid.

     

    Paul.

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    Guest caoimhe

    Thanks Paul even it that wasn't the answer I wanted.

    Doesn't give us as good buying power to have to wait on approval once we have found the house we want :skeptical:

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    FIRB approval should have no effect on your capacity as a buyer. It just becomes a condition of your contract of sale.

     

    We are in the middle of the process at the moment.

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    Buying property here is very different to the UK.

    Once the vendor agrres to your offer and you enter into a contract the seller is legally bound to sell to you. You the buyer get a 2 working day cooling off period and then you are legally bound.

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    Guest kenmcfadyen

    Thanks for asking this question - I was about to ask the same thing....but one more thing:

    Is there any specific criteria a house, or buyer/vendor needs to fulfill to get approval?

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    Guest soggy
    Thanks for asking this question - I was about to ask the same thing....but one more thing:

    Is there any specific criteria a house, or buyer/vendor needs to fulfill to get approval?

     

    Hi,

    if the house is for the buyer to live in then it's 99.9999% certain you will get approval, the idea of FIRB approval is so the government can keep track of foriegn investment and ensure that all areas stay majority owned by Aus citizens and permanent residents.

     

    Simon:)

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    Oh and settlement is usually 1 month after contracts signed and when we bought there was no solicitor involved, just the estate agent and the conveyencer.

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    We submitted our application for FIRB approval on the 28th Mar. Today (2nd Apr) we received an email granting approval to purchase subject to the general conditions.

     

    4 working days, not bad eh!!!!!

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    Guest caoimhe
    We submitted our application for FIRB approval on the 28th Mar. Today (2nd Apr) we received an email granting approval to purchase subject to the general conditions.

     

    4 working days, not bad eh!!!!!

    That's excellent, hope we are that lucky when the time comes

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    Guest mandmick

    Sorry to jump on the thread, just wondering if you knew if you can buy without validating visa?

    We have our visas approved and we're taking our passports to our agent next week, we hope to validate in Jan. We've seen a house now, but not sure if we need FRIB approval or not...

    Thanks guys..

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