Off the plan purchases are purchases made before a building has been constructed, for example, a strata unit or retirement home. This kind of purchase comes with a number of risks because you are not able to inspect the building before you buy.
It is strongly advisable that you consult with a member of the property team at Conveyancing Legal. Our lawyers will be able to thoroughly examine the terms of the contract to make sure that your purchase is the best one for you.
In particular, the following should, and will be, considered:
- • Whether there are any penalties for withdrawing from the contract,
- • Whether changes by the developer to the finishes in the unit are possible,
- • Whether your finance will be available if the building is finished early,
- • Whether on selling is allowed prior to settlement,
- • How long the developer could potentially delay settlement,
- • How building defects are rectified.
Conveyancing Legal will be able to advise you on your rights in plain English, so you know exactly what is happening throughout the purchasing process.
For a full and accurate legal advice tailored to your needs, please contact our office on 1300 388 298.
Please note that the information on this page is for general use only and does not constitute legal advice.