Property Investor Protection Policy

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Welcome to this short video outlining the way in which OzInvest protects you against the pitfalls of poor due diligence that is the current environment of many property investment marketing companies.

Our length of time in the market and our number of repeat clients means that we must be doing something right. We commenced operating as Ausdef in 1987 dealing only with clients in the Military, and then changed the company name to OzInvest from 1998 when the company opened up to the general public.

OzInvest now has many properties under management in its property management arm, OzInvest Realty.

Over 50% of OzInvest’s business now comes from existing clients, or referrals from existing clients.

It is imperative that you only deal with properly licensed companies and advisors, duly licensed with the local State Office of Fair Trading or similar. There are many in our industry that do not hold the appropriate licenses and may be transacting illegally.

All sales people within the property investment industry must hold current real estate sales certificates under the guidance of the Real Estate Licensee within the company.

All OzInvest Investment Property Consultant’s are licensed real estate sales people operating under the guidance of Phil Kelly, our Chief Executive Officer and licensee of the business.

If you have any doubts, ask the consultant you are dealing with to provide you with a copy of their licence.

All OzInvest properties are sold at fair market value. Every property sold by OzInvest must be assessed by an Independent Licensed Valuer appointed by your lender, not by OzInvest or any associated company of OzInvest.

It is essential that this process be independent of the marketing company, and forms your primary protection against buying overpriced properties. Many property investment marketing companies own their own finance businesses, and hence place all their loan applications with that company. If the finance company originates their own loans, they also then control the valuation process, and may be in a position to compromise your valuations in order to effect the sale.

At OzInvest, we provide you with Independent Mortgage Broker contacts that have products available from all the major Australian lenders, and these lenders appoint their own licensed real estate valuers to ensure the underlying real estate security values up to the purchase price within acceptable margins for error.

We recommend you appoint conveyancing specialists that are completely independent from the property investment marketing company.

They must be licensed to transact in the State that you are purchasing the property. That is, NSW Solicitors may not be licensed to transact real estate in Victoria.

OzInvest provide you with a panel of duly licensed Conveyancing specialists licensed in every state that we conduct sales operations.

When you do make a decision to purchase, you will be required to make a fully refundable Holding Deposit plus a nominal Administration Fee. Should your finance not be approved for any reason, the Holding Deposit and Administration Fee are refunded to you in full.

The Holding Deposit will be transferred to the Trust Account of the land developer, or the Builder if the builder also owns the land. This deposit is held in Trust and forms the primary contract deposit after your lender provides you with an unconditional approval of finance for the project.

From the time you pay your holding deposit, you will have at least 28 days before you are fully committed to the purchase.

OzInvest co-ordinates the preparation and signature process of all parties to the land and building contracts to ensure a timely conclusion to the purchase. All contracts, which must be signed by you and the vendor/s within 7 days, have a “Subject to Finance Approval” clause inserted; so that you are not committed to the purchase should your finance application be rejected by your lender for any reason.

Lenders require signed contracts to be appended to the finance applications, and the application approval including the independent valuers report, will be forthcoming within 21 days of the contracts being signed.

As soon as your lender provides written approval of the finance for the project, your Solicitor will seek your approval to make the contracts unconditional. It is only at this point that you are committed to proceeding with the purchase of the property, so you have ample time to make the right decision to proceed or not.

As an investor and entrepreneur, the most important commodity is time.

At OzInvest we protect your time by providing key staff to assist you through the finance approval and building stages of the project.

Apart from the protections we provide in property pricing and the sales process, we offer several services that ensure your maximum satisfaction after construction is complete.

To ensure you always have the maximum claimable tax deductions for your property, shold you choose to finance the property through OzInvest Finance we provide you with a free Quantity Surveyor’s report performed by our chosen Licensed Quantity Surveyor that will maximise your non-cash depreciation claims.

In addition, we prepare and lodge your first Income Tax Withholding Variation form with the Tax Office, prepared and lodged by our chosen Tax Agent.

We also provide you with a free Independent Builders Report to establish if any building defects exist after completion of construction, so that the Builder can rectify any problems within the normal warranty arrangements.

Click here for more details about the OzInvest Platinum Club.

The Leaseback Program also guarantees that you will always receive fair market rental for your property. When rentals rise, you receive the full rise. OzInvest do not take any percentage of the rent rises, apart from normal property management fees.

With all these protections in place, there is no better time to buy your investment property.

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