Know the step by step process for the Special Disability Accommodation Housing Investment:
Following the National Disability Insurance Scheme (NDIS) conditions means that a very professional procedure needs to be put into place in investment and development of an Special Disability Accommodation (SDA) property. With each of our listings, we follow very professional practices in organisation, development and client support throughout the process.
Following the National Disability Insurance Scheme (NDIS) conditions means that a very professional procedure needs to be put into place in investment and development of an Special Disability Accommodation (SDA) property. With each of our listings, we follow very professional practices in organisation, development and client support throughout the process.
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To show the process we will use a typical 4 bedroom home as an example:
4 Bedroom, 4 Bathroom Home This caters for 3 tenants/participants and 1 onsite overnight carer $640,000
4 Bedroom, 4 Bathroom Home This caters for 3 tenants/participants and 1 onsite overnight carer $640,000
Initial Deposit on signing an Expression of Interest is $1,000. This secures the land (No Commitment) but held for client whilst the contract process takes place. It takes 2 to 5 working days for both land and build contracts to be prepared and they then go out to be signed by purchasers. Once contracts are returned they are signed by the land developer and builder.
Contract dated after last person signs the land contract.
(This is usually the land developer or his solicitor). From the date of contract there is a 5 working days cooling off period and if the contract is not Subject To Finance now becomes unconditional.( usually a Cash Contract)
If the contract is still subject to finance, it becomes unconditional after finance approval. (Usually 21 Days Subject To Finance but extension granted where lenders take longer than expected) Now the balance of deposit is due on land including the $1,000 initial deposit. Normally this is 5% of the land value.
Land contract is now unconditional
Builder may invoice for 1st progress build deposit 5% (Refer to progress payment (1) of build contract) this may sometimes happen at unconditional or after the land settles. Council, usually 2 weeks for approval plans (can Vary) after approval footing payment due etc – Refer to build Contract for progress payment schedule to settlement.
Usual deposit conditions 5% deposit on both house & land Balance land deposit to 5% on unconditional.
The land is land tax exempt and stamp duty is only payable on the land
When the land contract is unconditional
The plans are ready to submit to the council. The land contract settles -The builder has confirmed by letter from the certifier that the plans are compliant, builder will lodge plans and wait for approval of drawings from Council.
The Service Provider will sign the 20-year lease agreement (send copy to client). They will then begin the process for sourcing compatible tenants for the home. The client will pay a% of the annual rent for sourcing all tenants (Once only). TBA for each service provider. Once suitable tenants are sourced, they sign an “intention to rent” and are advised they will sign a tenancy agreement prior to moving in. Once the home is built the service provider will lodge final assessment documents to Livable Housing Australia (LHA) who issue final certification. An application then goes to National Disability Insurance Agency (NDIA) for registration of the National Disability Insurance Scheme (NDIS) / Special Disability Accommodation (SDA) home into the scheme for funding.
Returns are based on the National Disability Insurance Scheme (NDIS) / Special Disability Accommodation (SDA) price guide accurate at the time of publication, all info subject to change.
If you would like more information on this fantastic investment, contact Angelo Karalis | 0421 242 645 | [email protected] & John Karalis |0421 242 587 | [email protected]