If you are looking at buying into a retirement village Arenburg Legal can help you put in place all the arrangements necessary to give you peace of mind.
We will help you understand your financial and legal obligations and whether the residence contract is fair.
Arenburg Legal has the expertise both in retirement village law and, if needed, general property conveyancing, to assist with the sale of your home.
We can work with you via phone, email and video conferencing to ensure that you receive the legal advice and support you need if you are unable, or prefer not to meet in person.
Subject to certain restrictions, we can also offer a mobile legal service covering South East Queensland. Ask us how arrangements can be made to have one of our legal experts visit you.
Buying into a retirement village is not the same as buying an investment property.
You may face substantial costs when leaving a village. Buying into a retirement village is a lifestyle decision, not a financial investment.
Living in a retirement village is not the same as owning your own home or renting. In most cases, you do not purchase the property title to the unit. Instead, you purchase a right to live in the unit and the right to benefit from the lifestyle facilities the village offers.
The cost of providing the unit and lifestyle generally exceeds the amount you pay when you move into a retirement village. The village operator recovers the balance through an exit fee payable after you leave the village. This amount, together with other fees and charges agreed to when you moved in, are deducted from your refund when your unit is ‘sold’ to the next resident.
As a general rule, the deduction of the exit fee and other charges means the amount paid when you moved in is significantly reduced at final settlement, even though the market value of the unit may have increased.
In your initial 15 – 30 min free consultation we’ll review and assess your specific requirements.
Once ready to proceed we’ll review the documents and draft any required changes to protect you and your interests.
We’ll work with all interested parties to ensure a smooth and pain-free settlement.
"I sincerely appreciate your professional guidance and support since your first call immediately following my query by email. The quote I received was extremely fair and competed well with other highly regarded legal firms. Thank you very much for ensuring I felt comfortable during the process and I’m most grateful it wasn’t complicated or difficult to discuss some matters."
"I am very pleased with the services recently provided by Arenburg. Their experience, technical and functional skills, combined with their strong foundation in project management made them a pleasure to work with. They demonstrated flexibility in meeting deadlines and exceptional communication!"
At Arenburg we see how important it is to have someone on your side who you can trust and rely on to protect your interests.
Your free 15-30 min initial consultation will include:
Specialised and experienced legal advice customised to your situation.
Explanation of the common pitfalls & traps of retirement village purchases.
Bias free advice without a sales pitch.
Preference in helping you self-reliant vs outsourcing.
Responsibility and accountability on all our advice.