BUYIng property off plan

 Off‑the‑plan contracts are usually lengthy and contain specific clauses about the construction timeline, finishes, and settlement date. We review your contract carefully, explain the terms in plain English, and highlight important details such as sunset dates (the latest date the developer can complete the project) and inclusions (what’s actually delivered). 

 Once the contract is finalised and signed, you’ll pay the deposit (often 10% of the purchase price). This is usually held in the developer’s trust account until settlement. 

 In NSW, most residential purchases have a 5‑business‑day cooling‑off period (unless waived with a 66W Certificate). During this time, you can withdraw from the contract, but you’ll forfeit 0.25% of the purchase price. 

 Buying off‑the‑plan means settlement won’t occur until the building is complete and an Occupation Certificate is issued. This can be months or even years later. We monitor progress and keep you updated on key milestones. 

 Because settlement is in the future, your lender can’t finalise unconditional approval until closer to completion. We liaise with your mortgage broker or bank to make sure you’re ready to apply for finance at the right time. 

 Once construction is complete, you’ll be invited to inspect your property to check for defects or items that don’t match the contract inclusions. Any issues are reported to the developer for rectification before settlement. 

 The developer will give notice (often 14 days) that settlement is due. We confirm your finances are ready, calculate adjustments for rates and levies, and prepare all legal documents for transfer. 

 On the agreed date, funds are transferred to the developer and your ownership is officially registered. You can then collect your keys and take possession. 

 If issues arise after settlement—such as defects, title registration queries, or disputes over inclusions—we provide guidance on how to resolve them.