In today’s property market, people often purchase townhouses, units or apartments off the plans as part of a development. These purchases involve signing a contract to purchase the property, at a time when the property has not been fully constructed. In many cases, construction of the property has not even commenced. Purchasers must therefore rely on the plans and specifications provided by the developer, and on their contract with the developer. If you decide to purchase a property off the plans, it is therefore crucial to know exactly what you are purchasing, and to protect your position. This is where ARL can assist you.
At ARL we will guide you through the purchase process. Our services can include reviewing your contract and advising you on it, and then negotiating amendments to the contract on your behalf. While not every aspect of the agreement is negotiable, we strive to ensure important matters are fairly addressed. These matters often include, but are not limited to:
- how your deposit is to be held
- when the settlement date shall be
- the process to be followed where variations to the plans and specifications or the contract are required
- what guarantees/warranties are provided to you and the process for you to access those guarantees/warranties
- the process to be followed where any substitutions of materials are required
- what ability you have to cancel the agreement and have your deposit returned if your property is not completed within a certain timeframe
- body corporate matters
Before signing an off the plans contract today, contact our property team experts who will give you specific, expert legal advice on how to best protect yourself and your property. Our email address is email@example.com, or you can call us on 04 5666 777.