how it works
How RealFuture helps create new possibilities
The RealFuture difference
The process of buying and selling property with RealFuture is just like buying or selling any property in Australia. With a few important contract differences that make all the difference to you.
RealFuture uses a network of licenced real estate agents to list, show and sell the properties you can find on our website. The main difference is our unique sale contract that includes a long settlement term that opens up a world of new possibilities for vendors and buyers.
Long settlement termSet by the vendor, this is between one year (12 months) and three years (36 months) and is the key to providing more choice, options and possibilities to vendors and buyers. Standard sale contracts require settlement in 30 to 90-days which can be stressful when selling and buying property.
Staged depositsTwo deposits of 5% each, one paid at exchange and one paid at the halfway point of the settlement term. Unlike standard contracts, these deposits are immediately released to the vendor (less RealFuture and agent listing and selling fees paid out of the first deposit).
Shared increase in valueProperty value may grow during the settlement term. The RealFuture contract seeks to create a fair outcome for vendors and buyers by providing an equal share of any increase in property value between exchange and settlement to each party. We use an expert of independent valuers to work out the property value at settlement.
Pre-listing
Vendor chooses real estate agent
Vendor sets sale price
Vendor sets settlement term
Vendor signs contract
Property listed on RealFuture
Agent hosts inspections for prospective buyers
Contracts are exchanged
Buyer signs contract and pays initial 5% deposit
Deposit released to vendor (less RealFuture and agent listing and selling fees)
Halfway through settlement term
Buyer pays second 5% deposit
Deposit released to vendor
Settlement
Property is valued by independent experts
Any increase in property value since exchange is shared equally between vendor and buyer
Buyer pays balance of funds to vendor
Sale is complete
Frequently Asked Questions
Yes. RealFuture uses real estate agents to list, show and sell properties, and all sale contracts are conducted under the relevant law in every state or territory in Australia. All contracts are legally binding and enforceable by the applicable laws in each state and territory. We encourage vendors and buyers to seek independent financial and legal advice when listing or purchasing properties.
The big difference with RealFuture, which benefits both vendors and buyers, is the long settlement period we include in sale contracts. Typically, property sales settle in somewhere between 30 and 90 days. With RealFuture, a long settlement of between one year and three years, combined with two staged deposits and shared increase in value makes us a new and different way to buy and sell property in Australia. Other than that, the process is the same including conducting inspections and sale process through licensed real estate agents.
Yes. Our contracts are based on standard property sale contracts but with the crucial differences of settlement term, deposit value and payments and shared increase in value between exchange and settlement. Contracts are valid under the laws of the states and territories in which they are signed. Vendors and buyers are legally bound to conduct themselves per the contract they have signed. All parties are encouraged to seek independent legal advice when buying and selling property on the RealFuture platform
RealFuture engages an expert panel of valuers to determine the value of the property at settlement. If the vendor is not happy with the first valuation, a second valuer is engaged to determine the value of the property at settlement. The difference between settlement value and the value of the property at exchange is then determined, and half of the value is assigned to each of the vendor and buyer to work out the distribution of funds to complete the property sale.
