FINANCIAL & CONTRACT INFORMATION

CLARITY, CERTAINTY AND CONFIDENCE 

We understand that moving into a retirement village can be a big decision. With so many different retirement village contracts, it can be difficult to understand the differences, and determine what one works best for you. We believe it is important for you and your family to have clarity over our contracts from the very beginning.  

We have prepared a simple explanation of our contract to give you and your family peace of mind.   

Marian Grove Village Loan Licence Agreement Contracts

It can be difficult to understand the long-term costs associated with buying into a retirement village.  Marian Grove offers a Loan Licence Agreement. The Loan Licence affords the resident uninterrupted right of residency under the terms and conditions of the Agreement.

Capped Departure Fee

Marian Grove Lifestyle Village has a capped departure fee structure that will not exceed 45% of the price you pay for your home.  This way, it is easy to calculate (even before you move in) exactly how much money you will receive after you leave.

No Stamp Duty

You will not have to pay stamp duty on your villa/unit, leaving you with extra money in your pocket to enjoy whilst you settle in.  

PEACE OF MIND

If you decide the village isn’t right for you within 90 days of moving in, we will refund you the full ingoing contribution within 30 days so you can focus on your next move. Please note that the monthly village fees are also refundable, however we are entitled to charge “fair market rent” for the time that you do stay.

Monthly Village Fees

Your monthly village fees cover:

  • Council rates

  • Water rates and usage

  • Building insurance

  • Building, garden and internal road and carpark maintenance

  • Village recreation Centre, Café and Chapel maintenance
     

Residents are responsible for their personal expenses including:

  • Utilities (electricity, phone, internet, and contents insurance)

  • Health Care, Home Support Services (cleaning, personal care etc.)

WHEN YOU LEAVE

Leaving the village may be a challenging and emotional time for you and your family, so it is important to us that we make the process as stress free as possible.  
 

  • You don’t need to sell the unit when you leave

  • Once all of your items have been removed and the keys returned to the office, Marian Grove will take responsibility for the Village fees until the unit has been sold 

  • We will prepare the unit for sale at no cost to you 

  • You are not charged any sales commissions or marketing fees

  • You are protected from the fluctuating property market and will not be impacted by any capital gains. Marian Grove will incur any capital loss or gain

  • In the unlikely event that your unit has not sold within six months, we will fully refund you all of your entitlements.  

 

Departure Fee Structure

The departure fee is payable when you leave the village and allows us to keep our entry prices as competitive as possible, leaving you with more cash in your pocket to enjoy your retirement.   

The departure fee covers Marian Grove’s initial investment in the village and helps to ensure that all residents have access to quality facilities and amenities whilst they are living in the village.   

 

The Buying Process

  • No deposit

  • No stamp duty

  • Capped departure fee after 4 years

 

When Living in Marian Grove Village

  • Fixed monthly Village Fees – reviewed once a year

 

When Leaving in Marian Grove Village

  • Easy Exit

    • No sales and marketing fees

    • We sell the unit

    • No reinstatement or refurbishment fee for normal wear and tear

  • Financial security whilst the unit is on the market

    • Guaranteed repayment of exit entitlement

    • No village fees payable once the unit has been emptied and the keys returned.  

SCC

3 MARIAN PLACE

TOORMINA NSW 2452

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© SAWTELL CATHOLIC CARE 2019

SAWTELL CATHOLIC CARE