FAQs: How much say do I or family members have over the resale of my retirement village accommodation?
Once the exit process is triggered, you or your beneficiaries will need to agree a resale price of your villa / unit based on current market value.
If an agreement can’t be reached, an independent and qualified valuer may be called in to provide the market price. Depending on the terms of your contract you may also need to arrange to refurbish the unit / villa at your own cost.
You or your beneficiaries have the right to appoint a real estate agent of your choosing to sell your retirement village accommodation.
The retirement village manager may be appointed by you to sell your accommodation. In this case, the usual fees associated with using a real estate agent are usually absorbed by the retirement village.
Make sure you feel well informed on the provisions of your contract. Engaging a legal counsel with experience in retirement village legislation to help you understand the terms of the contract is a wise investment.
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Retirement Villages in Victoria • Frequently Asked Questions
If you are interested in exploring the possibility of a move to a modern retirement village around Melbourne. Booking a tour at one of the RCA Villages around Melbourne can be a great place to start. Visit the website of the village in the region you would like to visit for contact details.
South East Melbourne
Ask about RCA Villages no deposit reservation process on new villas.