Frequently asked questions
Frequently asked questions about buying a Coral Homes display home
Q. How long do display homes stay open?
A. Usually 2-3 years with some 3-5 years.
Q. How and when is rent paid?
A. Direct deposit into your nominated account on the first business day of the month for the month in advance.
Q. How is the rent calculated?
A. 7.5% of the sale price. If the home was $600,000 X 7.5% = $45,000 per year divided by 12 months = $3,750 per month.
Q. What happens when the display home closes?
A. Coral Homes removes all signage and furniture, and converts the sales office back to a garage. We make the home ready to be lived in as a near new home.
Q. How much notice do I get before the display home closes?
A. At least 1 month and in most cases 2-3 months.
Q. Who pays for the display home to be converted back into a normal house?
A. Coral Homes
Q. How much is the property management fee?
A. No property management fee is charged at all.
Q. Do I get to keep the furniture or front fencing?
A. The furniture is owned by Coral Homes and we reuse this. If we will not be reusing the front fence we are happy for this to remain.
Q. Who pays utilities?
A. Coral Homes pays for power, phones, internet and for water usage.
Q. Who does the cleaning and gardening?
A. Coral Homes looks after all cleaning and gardening while a display home.