4. Next you arrange with the vendor a bank transfer of around 75% of asking price into an account of the vendors choosing...a little scary as you will need to wait hopefully only around 30 minutes for the vendor to confirm they have received it. Normally the agent, if there was one will be present to help the process along. This stage usually happens a week or two after payment of the initial deposit if the existing owner has a bank loan (mortgage) outstanding on the property. At this stage it is usual to be able to move into your property.

5. Some 4/5 weeks later you should be able to pay the remaining balance. It is at this stage you will receive the property registration documents. This final time frame is dependent on government departments speed.

Sometime between stage 4 and 5 the agent will probably ask for the fee.

It is now at this final stage that you will also need to pay the various taxes and other disbursements. These normally average out at around 8/10% of selling price. When you enter into the early price negotiation you can try to split these costs or even insist the vendor pay them...good luck!

Interesting to note that some do not complete this final stage 5, so they end up living in a property with no registration documents...

Whilst Nana and I were looking a couple of these were offered to us, apartments with no registration documents.

It would probably not be too difficult to sort out the issues relating to property with no registration papers, probably only a payment made to the original owner would be all that is required but I certainly did not want to enter into what appeared to me to be a huge can of worms...so we decided not to pursue these particular apartments...

One thing to note. Here property is sold by the square metre. most agents will display the number of square metres. The price per square metre will depend on a particular block in a particular location, the quality and the demand. Prices vary enormously from block to block, just like any where else in the world.

Tips...Location, Location, Location.