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Real Estate

No Deposit, 3 acres Mother Tree Hill

Build a tree house with a garden and live off grid or start a airbnb tucked in the Jungle of Aore Island. Can grown garden and create a agri tourism business. A stunning quiet location that is no deposit and 6 months interest free

SOLD

Property ID: MTH02

No Deposit, 3 acres Mother Tree Hill

Lot Size: 3 acres - 12,000m2

Listed Price: $120,000

Land Type: Acreage with native trees and ferns

Land Condition: Flat land in the Rainforest

Lease Length: 75 years 

Zoned: Agricultural

Finance Options: Vendor Finance

$120,000

Vendor Finance 

  • Min Deposit: $0.00
  • Min Payment  $400
  • Balance Term 3 - 5 years
  • Balloon Payment after term
  • No interest for 6 months
  • 8% interest on Balance

Bank Loan 

  • Deposit 10% - 30% 
  • Term 5 - 30 years
  • Interest 8%  - 10.2%
  • Proof of income 
  • Collateral required 

  • VENDOR FINANCE

    A sand dune in the desert with a blue sky in the background.

    Vendor finance is a financing option provided by a vendor or owner of the land, typically in the form payment plans. This allows the buyer to buy from the vendor and pay for them over a period of time, rather than upfront. 

    The agreement is between the vendor and the buyer. 

    Typically, the interest rate on vendor finance loans is higher than traditional bank loans.

    TERMS OF VENDOR FINANCE (each vendor sets there own terms) 

    Deposits:  10% - 20%  dependant on value of loan

    Loan Term:  1 - 5 years

    Interest terms:  7 - 10%  with some vendors offering with 6 months interest free

    The terms of the agreement may also include a balloon payment at the end of the loan term, where the remaining balance is due in one lump sum. 


    WHO CAN APPLY:

    Vendor finance can be a good option for those who do not have a credit rating or have difficulty obtaining a traditional loan from a bank or financial institution. With vendor finance, the seller of a property finances to the buyer, allowing them to purchase the property without the need for a traditional loan. 

    This can be a great option for those who may not qualify for a traditional loan due to a lack of credit history or poor credit score. 


    HOW TO APPLY: 


    1. Research the property you are interested in and gather all necessary information.
    2. Contact us to express your interest and confirm availability.
    3. Discuss your budget or agreed deposit with the us and will negotiate with the owner.
    4. Ensure you have the necessary funds available to pay the deposit in the agreed upon timeframe.
    5. Provide three forms of identification (such as a driver's license, passport, and utility bill) to verify your identity and a emergency contact. 
    6. Obtain a police check to demonstrate your clean criminal record.
    7. Fill out the application provided by the agent, including all required information and supporting documents.
    8. Wait for the approval process to be completed, which may include additional screening and background checks. ( 7 day turn around)
    9. Once approved, sign the lease agreement and prepare to move into your new property.

    AIn the case of vendor finance, the seller acts as the lender and provides the buyer with the necessary funds to complete the transaction.


    It is important to note that vendor finance is only available for selected properties that have an existing building or vacant land with a value of at least $250,000 AUD. This means that not all properties will qualify for vendor finance and the seller may require a certain level of collateral or equity in the property to secure the loan.


    Overall, vendor finance can be a useful option for buyers who are unable to secure traditional financing through a bank or other lending institution. However, it is essential to carefully review the terms and conditions of the agreement, as well as any potential risks or drawbacks associated with this type of financing.

  • BANK LOAN

    A sand dune in the desert with a blue sky in the background.

    When applying for a bank loan, it is important to have a good credit rating. This shows the bank that you have a history of managing your finances responsibly and are likely to repay the loan on time. Additionally, the bank requires a deposit of around 10 % - 30% of the total loan amount. This deposit serves as a form of security for the bank and reduces their risk when lending to you.


    In some cases, especially for larger loans, you may also be required to provide assets as collateral or guarantee for the loan. This could be things like property, vehicles, or other valuable assets that the bank can seize and sell to recover their funds if you are unable to repay the loan.


    It is important to carefully review the terms and conditions of any loan agreement before signing, as failing to repay the loan could result in the loss of your assets or damage to your credit rating. If you have any doubts about your ability to repay the loan, it may be best to consider other alternatives or speak with a financial advisor for guidance.

    How to apply?


    1. Complete an application form
    2. Letter of confirmation of employment & remuneration from current employer;
    3. Letter of offer from the customer confirming the purchase price and copy of the state lease
    4. Letter of acceptance form the vendor
    5. Evidence of 25% equity contribution by the customer
    6. Super,  ID and copy of the latest statement
    7. Copy of Driver's Licence;
    8. Salary Deduction Authority;
    9. Confirmation of ownership of major assets advised e.g. copy of state lease, copy of vehicle registration, must be provided with your application.
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