Off the plan purchases
We have considerable experience in dealing with off the plan purchases which can involve many difficult issues and need careful attention. Purchasing off the plan is where you negotiate to purchase a property where the contract is subject to the developer completing the building work, obtaining a final occupation certificate (which certifies that the house or apartment has been constructed in accordance with the development consent) and registering a subdivision plan. There are often lengthy negotiations with the legal representative for the developer in ensuring that the contract terms are fair and reasonable for the purchaser. Matters which need to be carefully considered include land tax (the developer will usually try to insist that you pay a share of this), the schedule of inclusions, carefully checking the draft plan of subdivision, provisions in the contract allowing for the developer to make changes to the plan of subdivision and the schedule of inclusions, the sunset date (the date by which the developer must complete all works and have the plan registered so that settlement can take place) and any right to extend this period of time, and settlement conditions.
Contact our expert team
Call us on 02 9987 1399
or 0414 785 071
Office: Suite 4B, Ground Floor, 32-34 Florence Street, Hornsby, NSW 2077
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