Here's what i would do: If your expected salary in your contract QAULIFIES FOR THE AMOUNT OF THE BOND REQUIRED and you have 20% deposit, explain the situation to your REPUTABLE AGENT and ask them to put in an offer for a 6 MONTH RENTAL AGREEMENT contract at the going rate in the complex, TOGETHER with an offer to purchase SUBJECT TO your BOND APPROVAL. The offer to purchase must only be dated for the END OF THE 6 month rental agreement. Both must be signed before you open up the champaign, but you can always renegotiate and up your offer. Life is a game. My first offer to purchase would be at a price at least 10%, (but probably less) below the sellers asking price, with continuence of occupational rent covered for in the OFFER TO PURCHASE, which is "subject to" a bond being approved. Wait for the Agent to get back to you to get a feel of what to do from there. If they are a reputable agent they will be working for the seller and not for you. It might then depend upon wether the seller is selling because of CGT and has had better offers, or another "subject to" offer, but it's a little late for the property to still be in the market for CGT reasons now. Amnesty ends at the end of the month. You can try this with only a 10% deposit, but if i were the seller i would probably hold out for a better offer, or better selling price in that case.
Also, you should be aware of and read the option that follows and which is explained somewhat in the link below and especially if you may be coming into some money in the near future and can settle with a lump sum at some point. However, remember that you only have 5 years in which to finish paying off the debt, or furnish an outstanding balance and that you might loose everything if for any reason you cannot meet the commitments of the sale agreement, so you need to at least be able to make payments of the purchase price devided by 60. The thing about this method of purchase is that the sale price is fixed now and there usually is very little interest to pay. You can always settle for less and look for something you can easily afford and then work your way up to the home of your dreams every 5 years. 5 years goes by before you know it, but a lot can happen in between. As long as you are paying an amount that will help to satisfy the owners dreams in the case that they are buying, or have bought somewhere else, you can negotiate an installment contract to start off with lower payments the first year and increasing them every year to meet the contracted amount at the end of the term.
http://www.snymans.com/blog/purchasing-property-through-an-instalment-sale-agreement.
Also, you are only liable for the costs of transfer at the end of the agreement, but you do not need to take it until you have the costs together and as long as the agreement has been settled, you have proof that it is yours. It might just be another piece of worthless paper and they say he was mad and is in prison now for embezelment or something on a charge unrelated, but i've not yet seen an argument that refutes this:
http://www.youtube.com/watch?v=zUKp8GnrvKY&feature=related
Tell you what i have seen, when the bright sparks start flying in here.
