Buying off the plan?
Are you looking to buy a property off the plan? Let our team of experienced conveyancers guide you through the legal aspects, including reviewing contracts, negotiating terms, and protecting your interests.
We're here to help!
Buying a property off the plan can offer several benefits, such as lower purchase price, customisation options during the planning phase, and access to government grants and stamp duty exemptions. However, there are also risks associated with buying off the plan, such as the possibility of the finished property not matching the buyer’s expectations.
Which makes working with an experienced and diligent conveyancer 10x more important. We can give unlimited contract reviews, negotiate terms, and protect your interests throughout the process.
What you can expect from us
No Unexpected Costs
Transparency is our priority – our conveyancing firm guarantees no unexpected costs when buying off the plan, so you can focus on your property transaction with complete peace of mind.
Trusted and Experienced Service
Experience matters in property transactions – trust our experienced team to handle your case with diligence, expertise, and personalised service.
Quick and Consistent Communication
Don’t wait for updates – we ensure quick and consistent communication, keeping you informed every step of the way for a stress-free experience of buying off the plan.
Unlimited Contract Reviews
Sign with confidence – we offer unlimited contract reviews, ensuring complete peace of mind and a smooth transaction from start to finish.
Fixed Priced Conveyancing Services
Say goodbye to surprise fees – we offer fixed-price services, giving you confidence that were with you throughout the entire process of buying off the plan no matter how long it takes.
No Off-Site Meetings Required
Our firm delivers fast, convenient, and secure services via email or phone – taking away the hassle of attending meetings in an office, so you can complete your property transaction from the comfort of your home.
How it works...
Purchasing Off the Plan
An off-the-plan contract is prepared when a parcel of land or strata unit is being sold without its own title at the time in which contracts are exchanged. These are common ways for purchasers to enter the property market as the purchaser can commit to purchasing property which will not settle until the property has obtained council approval for the development and once registration with the Land Titles Office is finalised.
When purchasing an off the plan property, the purchaser is required to pay a deposit at exchange, with the balance of the price payable once construction and registration takes place. Purchasers are usually not able to physically inspect an off-the-plan property at the time of entering into a contract and would rely on the contract and information provided by the developer.
How are you protected?
From 1 December 2019, the Government introduced legislation which requires developers to provide greater disclosure obligations and stronger protection for purchasers.
- Longer Cooling off period
Unlike a standard purchase contract, with an off-the-plan purchase, the purchaser is entitled to a 10-business day cooling off period. - Vendor required to provide registered plan 21 days before settlement
The developer is required to provide the purchaser with a copy of the final registered plan and any associated documents at least 21 days prior to settlement. - Sunset clause
Generally in all off-the-plan contracts there is a sunset clause, the clause allows either party to the contract to terminate the off-the-plan contract should a certain event occur, such as the plan not being registered by the specified date in the contract.
Get in touch!
If you are looking for property conveyancing services, contact us today for more information.