Safin

What experiences has anyone had of this when on a temp visa.

I have read that they won't grant permission to buy a used house, will sometimes allow a unlived in house and usually allow land for building on. Is that true.

How long does the process take - can you be pre approved as ok as purchasers and then the house/land cleared when you find it?

Does it cost much?

We are on a 457 (about to be renewed for 2 yrs) and in process of applying for PR (RSMS) and wondering at what point we can buy.

Safin

Daka

Hi there
It is definately possible to get FIRB approval to buy an existing house here while on a 457 - we've done it!

It does have to be for you to live in whereas new houses/land can be to live in or for investment.

The approval is granted for a specific house you can't get pre-approved as such. If buying you would have to put subject to FIRB approval in the contract. The application can be submitted online but can take up to 30 days.

Safin

Thanks Daka, Do you know if decisions are based region by region or is it a matter of national policy?

Maybe I need to call them as it's not worth getting as far as contracts only for us not to have a monkeys chance cos of our visa situation or the locality or something like that...

It'd be for us to live in,, arg theres a point ...we still have a house in the uk rented out and were looking at nominating that as our main residence for tax purposes (something to do with capital gains) wonder if we need to be nominationg this oz house as main residence for tax to qualify or just living in it.

Daka

As long as you are living in it - that is fine.
We also still have our house in UK.

As far as I know it is just a formality really, I think it's rare that people get turned down. The website is pretty good www.firb.gov.au

Safin

Cheers - I'll take a closer look