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What type of contract do I sign?

You purchase the villa under a leasehold. You receive 100% of the capital gain less the departure fee and any other fees and charges applicable at the time.


When you enter a lease agreement with Kirkley Gardens you are legally protected under the Retirement Village Act of NSW.


You pay an upfront cost for garage and unit then at the end of your lease the proceeds are subject to industry standard departure fee of 10% for the first 3 years and 5% for the fourth year of occupancy (total 35%).


This departure fee is based on the price the unit on sells for after you vacate. Any capital gain is yours less any relevant levies as per contract.

 

For further assistance please feel free to contact our friendly team.