Benefits of Buying Property on Aore island

Natural Beauty: Aore Island is known for its stunning natural landscapes, including pristine beaches, lush rainforests, and breathtaking waterfalls. Buying property on Aore Island allows you to enjoy this natural beauty right at your doorstep.

Affordable Real Estate: Compared to other popular vacation destinations, property prices on Aore Island are relatively affordable. This makes it an attractive option for those looking to invest in real estate or buy a second home.

Tax Incentives: Vanuatu offers attractive tax incentives for property owners, including no capital gains tax and no inheritance tax. This can potentially save you a significant amount of money in the long run.

While buying property in Vanuatu has its advantages, it's important to thoroughly research the local laws and regulations, as well as seek professional advice, before making any investment decisions

The hardest part is choosing the location 

VENDOR FINANCE 

Vendor finance is a financing option provided by a vendor or owner of the land, typically in the form payment plans. This allows the buyer to buy from the vendor and pay for them over a period of time, rather than upfront. 

The agreement is between the vendor and the buyer. 

Typically, the interest rate on vendor finance loans is higher than traditional bank loans.

TERMS OF VENDOR FINANCE (each vendor sets there own terms) 

Deposits:  10% - 20%  dependant on value of loan

Loan Term:  1 - 5 years

Interest terms:  7 - 10%  with some vendors offering with 6 months interest free

The terms of the agreement may also include a balloon payment at the end of the loan term, where the remaining balance is due in one lump sum. 

WHO CAN APPLY:

Vendor finance can be a good option for those who do not have a credit rating or have difficulty obtaining a traditional loan from a bank or financial institution. With vendor finance, the seller of a property finances to the buyer, allowing them to purchase the property without the need for a traditional loan. 

This can be a great option for those who may not qualify for a traditional loan due to a lack of credit history or poor credit score. 

HOW TO APPLY: 

1. Research the property you are interested in and gather all necessary information.

2. Contact us to express your interest and confirm availability.

3. Discuss your budget or agreed deposit with the us and will negotiate with the owner.

4. Ensure you have the necessary funds available to pay the deposit in the agreed upon timeframe.

5. Provide three forms of identification (such as a driver's license, passport, and utility bill) to verify your identity and a emergency contact. 

6. Obtain a police check to demonstrate your clean criminal record.

7. Fill out the application provided by the agent, including all required information and supporting documents.

8. Wait for the approval process to be completed, which may include additional screening and background checks. ( 7 day turn around)

9. Once approved, sign the lease agreement and prepare to move into your new property.

AIn the case of vendor finance, the seller acts as the lender and provides the buyer with the necessary funds to complete the transaction.

It is important to note that vendor finance is only available for selected properties that have an existing building or vacant land with a value of at least $250,000 AUD. This means that not all properties will qualify for vendor finance and the seller may require a certain level of collateral or equity in the property to secure the loan.

Overall, vendor finance can be a useful option for buyers who are unable to secure traditional financing through a bank or other lending institution. However, it is essential to carefully review the terms and conditions of the agreement, as well as any potential risks or drawbacks associated with this type of financing.  LEARN MORE