Purchasing “off the Plan” is a term used where Buyers enter into contract for the purchase of residential or commercial property when construction may not have commenced.

Whilst most development contracts contain some standard terms, the terms of each development contract varies and it is always best to obtain professional advice from your lawyer before you sign to ensure that the contract terms are amended to suit you. Any amendments are usually harder if not impossible to negotiate after the contract is signed by both parties.

It may be possible to ask the developer to change some of the fitout to suit your specific requirements if the development is in the early stages of construction.

If there are certain representations made or important features in the development which cause the buyer to sign the contract these representations should be reflected in the contract to avoid any disputes later when the construction of the complex is complete.

The Community Management Statement will contain By-laws for the complex which should be checked by your lawyer. For example some by-laws restrict the keeping of pets in the complex.

If you require further information or advice regarding buying and selling “Off the Plan” please contact our office so that an appointment can be made for you to discuss your particular needs.