furbacchione

I know that non pr people have to buy new or build but wasn't sure if they are part of a group that includes pr's will that allow them, as part of a group, to buy used. Hopefully that makes sense.

roaringmouse

Check out the FIRB for this.

lesleys

Suggest you email the FIRB.
http://www.firb.gov.au/content/default.asp

Alfresco

Yes.

AlliF

That is not true, non-pr people are able to buy existing properties. Our best friends over here bought theirs whilst on a 457visa. They needed approval from FIRB but it was given pretty quickly.

In fact they were really kicking themselves because they thought you couldn't (had stupidly listened to someone back in the UK, didnt do their research)and so didnt sell their house in the UK. Shortly after they got here they found out you could but by that point the housing market had plummetted and their house is not worth the mortgage now so they are stuck with it meanwhile...

Craig Vaughan

If one applicant is an Australian citizen then you can buy any property you like, investment, live in it - no restrictions. You do not need to apply for FIRB approval in this instance.

If however both applicants are non/temporary residents then you will require FIRB approval to purchase.

FIRB Approval:
Buying a place as your own home:
If you are buying a place to live in then FIRB is really just a technicality, govt not concerned with foreigners buying property to live in themselves.

Buying a property as an investment:
If however you are buying an investment property then, as a rule, FIRB is only granted if it is a brand new property (ie, off the plan, new or construction/vacant land).

The rules changed early 2010 so note experiences prior to this may not be what you buyers would experience now.

For a plain english guide to FIRB see Do I need FIRB Approval

Alfresco

Great post!

andrew63

Came over on a 457 temp resident and within 5 weeks had got a mortgage and bought a house with FIRB approval.