How does Property Investment Work?

  1. Your consultant meets with the Property Department to discuss your situation, your goals, objectives and motivating factors. Property team then sources property options based on your individual situation.

  2. An appointment is then booked for you to meet with the property consultant to discuss the options that are best suited to your needs and also to answer any questions you may have.

  3. When you have made your selection, we ensure the property you have selected is secured for you. We then arrange the paperwork to get your contracts organised to proceed.

  4. The Property Team will contact you to organise an appointment to sign the required contracts. If you are unable to get into the office, we can organise to have these contracts posted out to you. We will then arrange for the builder and your solicitor make contact with you to discuss the contracts and answer any questions or concerns you may have.

  5. We then ensure your signed contracts are forwarded to the appropriate parties including your FAA Lending team member, who will liaise with you to source the required information to get your finance approved within the necessary timeline as noted on your contracts. This will then determine when your settlement date for finance.

  6. Once finance settlement has occurred, we will liaise with the builder to ensure that construction can begin and follow up with them to ensure that the property is progressing as expected and that there are no delays. ** We also request that the builder updates you during each stage of construction or gives you the tools for you to track the progress as well. **

  7. Your FAA Lending team member will email you at each of the 6 stages of construction (Deposit, Base, Frame, Enclosed, Fixing & Final payment stages) with invoices which are required for your bank to release the funds to the builder to keep the job progressing.

  8. We will liaise with your Property Manager to contact you at the fixing stage of construction to discuss the management of the property and organise the advertising for rental.

  9. At this stage, we follow up with the builder to ensure that the property is nearing completion, checks with finance that all parties have been paid and confirms with the Property Manager that there is an approved tenant ready to move in when the property is complete. The builder will then liaise with the FAA Property Team to advise that the property is complete and the date handover can occur.

  10. Handover has occurred and the tenant is ready to move in. Your Property Manager will then be in contact with you to discuss the next steps in the process.