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WOOHOO!!! March 28! It's D-Day! We now have our little piece of Australia. What a feeling it is to know that we are secure in our future.

What would have seemed to be a rather straight forward process, turned into a long drawn out ordeal.

This being our first and most likely last property purchase, I can't say that I have any other experience to draw from in regards to how these are supposed to go. That being said, we were on the other end recently when one of us had sold their house; which is in part funding this purchase.
That sale went a lot smoother for them than our purchase of this land.

There were a couple unexpected surprises which I have noted before on this site. Considering this is an 'In-Review' article that I aim to do with every project, I wish to outline everything that has happened.

I don't wish this article to be too long, but I would like to ensure that everything we have come across is out there for others.

So, without getting too distracted, let's get on with it!

The whole process started well before December of 2011, but we hadn't really started prospecting properties until December.

With a couple of properties on our shot list, we ventured out to check them out.

On our requirements checklist for prospective properties, some of the key features we were looking for were;

  1. Larger than 100 acres
  2. Adequate water - Via dams, springs or creeks.
  3. Plenty of wood
  4. Not too many rocks
  5. Good soil for building
  6. Ease of access
  7. Not too expensive

Item 1 in concert with Item 2 limited our choices quite a bit, but there were quite a few candidates.
Of those candidates, some were knocked out by options 2 and 4. The other undesirables were because of option 7.

The properties that were left had promise in the images we saw and the details listed.

To begin with, there were 4 properties on our list. Not a lot to be honest, but just remember, we only needed the one property :)

I won't go over all the details of those properties but I will point out and interesting note regarding our final property.

Before the New Year we had looked at this property, but we never saw all of it and the part we were shown wasn't promising.
We should have clued in to the fact that the small portion we saw wasn't 250 acres... However we were lead to believe that perhaps our property was larger at the front then it actually is.
Anyway, we left the property thinking it wouldn't work at all.

When we got back to base camp (home), we looked up the property in Google Earth to check the property boundarys.
Well well well... Wasn't this a shock.
Not only was the portion we looked at no where near 250 acres (duh), part of the portion that was showed to us wasn't even on our property (lol).
It wasn't even 5% of the total property haha.

With this information in hand, we went back to the real estate to ask for permission to camp out and spend 3 days checking out the property.
The real estate was happy with our plans and we got the green light.

So come the New Year, Jan 1st, we headed back to the property to spend the next 3 days checking out what the property had to offer.

What we found was more than what had been disclosed initially and were quite happy with the prospect of owning this property.

Let's run down what we had found and is the case for this property in terms of features;

  1. 4 large dams holding an estimated 2.5 million liters of water
  2. 200 acres of dense wooded area

There are 2 requirements from our checklist this property didn't meet. But we considered them to be options that we can actually fix.
Ease of access and 'not too many rocks'...
We can remove the rocks easily enough and the ease of access issue is something we can also fix.
But that is an entirely different article :) However, here is a teaser for that... We need to construct a bridge of sorts :)

At this point, we have all but made our minds up and decided to place in an offer.
As with all offers, there is a back and forth with negotiations.

It took 13 days of back and forth due to the vendor living in another country and getting the information for the deposit.
But our offer was accepted and it looked like all was moving forward smoothly.

Jan 24th - Took another 6 days for the vendor to receive and acknowledge the deposit.
Feb 2nd - 9 days later our solicitors received the initial paperwork for the contract, still waiting on S149.
Feb 6th - We go over the title information and find that there is a 'right of carriageway (ROC)' through our property.
Feb 12th - Find that we still have security on our property with the ROC and decide to move forward.
Feb 23rd - Further delay when we find out that the vendor is having troubles finding the original Title Deed.
Feb 27th - Title Deed located and transferred to our solicitors.

It was around mid March we had found out that our solicitors were waiting on information from the district council regards what rates had to be paid and that there was something called the LHPA that needed to be sorted as well.

What was this LHPA that I haven't ever heard of?
Livestock Health and Pest Authorities

Apparently it is a mandatory 'service' all rural land holders need to have if their land is over 10Ha in size. They offer things like checking of livestock health, pest control (fox bate) amongst other things.
Something that we wouldn't need AT ALL, but we MUST have it because livestock health is a big bad scary thing like Terrorists or people fighting for their rights.
The LHPA recorded a profit last year of around $28M AUD... Proft... $28 MILLION DOLLARS.
God damn this greed driven society.

Anyway, I digress.

Mar 20 - We hear back that settlement is locked in for March 28th.

 

And here we are...

March 28th, the day of settlement, the day this 250 acre plot of Australia has become ours.

Heralding the end of Project: Property Contract

Our next project will start Friday the 6th of April.

Keep an eye out on our front page for the project detail breakdown with estimated costs, times and other fun stuffs!

 

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