VIP Launch Day Purchase Procedure
1. Payment of an Initial Refundable Deposit (IRD) with your Sales Executive secures your appointment for the VIP Launch day. If you do not purchase an apartment on the VIP Launch day, your IRD is fully refundable.
Due to Foreign Investment Review Board requirements, the following photo ID is required to be produced for each purchaser regardless of whether they are a Foreign Purchaser or local purchaser:
a. Passport; or
b. Australian Drivers Licence and Medicare card; or
c. Permanent Residency Card.
Important Information – Payment of an IRD does not:
• Reserve; or
• Guarantee the purchase of any specific apartment in the development; or
• Obligate you to purchase any apartment in the development.
2. Payment of an IRD amount will reserve you an appointment time only. Allocation of appointment times is at the sole direction of the vendor and the agent. All reasonable efforts have been made to allocate appointment times in the order the IRD amounts are received, however we cannot guarantee specific appointment times.
Initial Refundable Deposit (IRDs) of $10,000 can be paid by electronic transfer to the below account:
Reference
513 534
Please provide project name, IRD and surname in the reference (e.g. The Walden Sydney IRD Smith)
Please provide remittance directly to your agent.
3. Complete the IRD form with your agent, along with your solicitor details.
4. Attend your scheduled appointment on the VIP Launch Day.
VIP Launch Day Purchase Procedure
5. If you decide to make a purchase, you will be required to select your apartment at the VIP Launch Day (subject to availability) and sign a binding Contract for Sale. The IRD amount will then form part of the deposit under the Contract for Sale. If, on the VIP Launch Day, you decide to purchase a second apartment, you will be required to pay an additional IRD deposit.
6. If more than one person is purchasing, all will be required to attend and sign the Contract. If the Contract is to be signed under a Power of Attorney, your attorney will need to bring a copy of the Power of Attorney with them. If you are purchasing in a company or trust name, directors of the company (including the trustee) will be required to attend to sign the Contract and provide personal guarantees. Please provide company or trust details and copies of the attorney documentation prior to the VIP Launch Day so they can be reviewed and approved by the vendor’s solicitor to ensure they are in order for use on the day.
7. Bank guarantees for the 10% deposit may be accepted, however, they must satisfy the following criteria;
1. Be provided by an Australian bank licensed in Australia and meet the required rating set out in the Contract.
2. Have either no expiry date or an expiry date no earlier than as stipulated in the Contract.
3. Be in favour of East Walker 88 Pty Ltd.
4. Reference that it is provided as the 10% deposit security for the relevant apartment.
5. Otherwise be approved in a form by the vendor’s solicitor.
ALAND will only consider deposit bonds from QBE or other APRA regulated Australian insurers.
The following agencies are acceptable provided the deposit bond is underwritten by one of the below insurers:
• Deposit Assure (QBE); and
• Deposit Bonds Australia (QBE)
• Deposit Power (HDI)
The vendor and its agents do not represent or warrant that the apartment preferences you select will be available for sale at the VIP Launch Day. The vendor has sole and absolute discretion over which apartment/s are made available for sale. This includes the discretion to offer apartments for sale to the vendor’s staff and others associated with the project prior to the VIP Launch day.
If you purchase an apartment on the VIP Launch Day and sign a binding Contract and then choose to rescind prior to the cooling off period, you will forfeit an amount of .25% of the Contract price (capped at $10,000). This is in line with legislation. This amount will be deducted from the IRD amount and the balance refunded to you.
