Buying / Selling Off The Plan
Buying Off-the-Plan? Here's What to Consider
Thinking about buying a property that hasn’t even been built yet? While exciting, “off-the-plan” purchases come with unique considerations. Don’t sign on the dotted line without a conveyancers contract review. A conveyancer can ensure you understand all terms and conditions, including:
- Completion Date: Is there a clear timeline for construction and handover?
- Inclusions & Exclusions: What’s included in the purchase price (fixtures, fittings, appliances)?
- Termination Clause: Are there clear conditions under which you can back out of the purchase and get your money back?
- Sunset Clause: Be aware of any “sunset clause” in the contract. This may allow the developer to cancel the project if a certain number of units aren’t sold by a specific date.
Boutique Property Conveyancing will carefully review all vendor disclosure documents, including information about easements, restrictions, and potential outgoings.
Comprehensive Contract Review
Our comprehensive contract reviews for NSW and Victoria goes beyond the basics. We won’t leave you with incomplete information. We understand that reviewing a Contract of Sale can be lengthy and a thorough review is crucial for protecting your investment.
We’ll make sure you understand every aspect of the agreement, including:
- What’s included (and excluded) in the sale
- Your rights and responsibilities as the buyer
- Tax implications (GST, land tax, stamp duty)
- Potential risks and how to mitigate them
- Title details and restrictions (easements, caveats)
- Necessary inquiries with NSW & Victorian councils and other authorities
By carefully reviewing the contract, you can be confident you are making informed decisions and safeguarding your interests throughout the buying process.
Selling Off-the-Plan? Let's Talk!
Selling off the plan conveyancing involves the purchase of a property before it has been built or completed. This type of transaction requires specialized expertise to navigate the complexities involved.
From carefully reviewing the developer’s disclosure statements to ensuring compliance with state-specific regulations, a skilled conveyancer is crucial in protecting the interests of both the seller and the buyer.
Thorough due diligence, thorough contract review and understanding the complex laws and guidelines are essential to mitigate risks and ensure a smooth and successful off-the-plan sale. With our specialized knowledge and attention to detail, our conveyancers play a vital role in these transactions.
