Before signing a Contract to purchase a property Off the Plan, it is imperative that you have a qualified and experienced Conveyancer peruse the Contract and explain the document to you and the risks involved with buying Off the Plan.
We have seen many a Purchaser disappointed and frustrated and at times find themselves in a difficult situation, as settlement did not occur when they expected.
Settlement of an Off the Plan Contract will be usually 14 days after registration of the Plan of Subdivision. It is difficult to estimate when settlement will take place as there is great deal of work to be done before a development is completed by the builder, service providers and authorities. Inspections and approvals by Council are also to be carried out.