Off The Plan Conveyancing
We are expert off the plan conveyancing lawyers for new build home buying.
Peace of mind for your new build property purchase.
Betar Lawyers’ off the plan conveyancing will give you the reassurance that you are protected in case of any issues during the build, on completion
and after you move in.
NEW BUILD HOME BUYING: what is BUYING off the plan?
Buying ‘off the plan’ simply means that you are agreeing to purchase a property before it has been built.
Although this can be mean you get a great property deal - and all the excitement of creating a home that’s exactly how you want it - it means that your decision to buy is based on the builder’s floorplans and impressions of what your apartment/unit or house will look like.
So, whilst buying an "off the plan” property this way has its advantages – for instance the property will usually come with a choice of internal finishes and colour schemes, you may get to specify some finishes to your exact liking and it is brand new with no maintenance – it does have some obvious risks, too.
At Betar Lawyers we are highly experienced in all the considerations and complications of buying off the plan. With our help you can make an informed purchase and can look forward to creating your new home with confidence.
New build property legal support & advice
We specialise in:
- Detailed and thorough off the plan contract reviews
- Helping you to understand the implications of your contract and your rights
- Contract negotiation that protects your interests
- Contract changes if required
- Resolution if there are building defects or delays
Off the Plan Conveyancing FAQs
+ What are the risks of buying off the plan?
Although there are advantages to buying off the plan, there are considerable risks, such as:
- Drop in property value by the time you move in
- Changes to the property layout or finishes that you weren’t expecting
- Builder delays
- Builder financial problems
- Build defects
That’s why it’s so important to get an experienced off the plan property lawyer to review your contract, so we can advise your legal rights in the event of ‘worse-case’ scenarios.
Contact our team for your off the plan contract review on (02) 9279 1100. We will thoroughly examine every aspect of the contract and explain what it means for you, in easy to understand terms.
+ Is it cheaper to buy a property off the plan?
One of the main benefits of buying off plan is that as a new build, it may be exempt from stamp duty and there may be concessions and grants you can apply for. Such as the NSW First Homeowner Grant (New Homes Scheme).
You also typically pay a deposit, and then have time whilst the property is built to arrange finance for the remaining balance.
The price of the property is also agreed before it is completed. So although this may mean that the property has increased in value by the time you move in, there’s also the risk it could have decreased, due to the ups and downs of the housing market.
It’s important to do your homework and consider all the costs involved and implications before you make any decisions.
+ What is the ‘sunset clause’ in an off the plan contract?
The ‘sunset clause’ is a part of an off the plan contract and it means that if the property isn’t completed and settled by an agreed deadline (‘the sunset’ date) then both buyer and seller can legally withdraw from the purchase and end the contract, with you receiving your deposit back.
Recent changes to laws in NSW have given new-build buyers more protection via the sunset clause. In New South Wales, builders cannot terminate a contract under the sunset clause without an order from the Supreme Court, unless the buyer agrees. This prevents a builder from using the sunset clause to end a contract, so they can sell the home at a higher price for example.
+ How can I get out of an off the plan contract?
You may have grounds to terminate your off the plan contract under the sunset clause, or if the builder has not complied with new legislation. If you want to cancel your off the plan contract, it’s important to get prompt and expert legal advice. Talk to us as a first step on (02) 9279 1100 and we will advise your legal rights and position.
+ What if there are property defects after settlement?
There will be terms written into the off the plan contract that outline how a builder will tackle any defects and the timeframe to do so. This is one of the aspects of an off the plan contract that needs careful examination by a lawyer.
It’s vital to go through any specific definitions of what’s classed as a defect and what isn’t and get any changed as necessary. Otherwise they can claim they do not need to fix something that is an issue for you, because they do not view it as a ‘defect’.
+ Useful links: Off the plan conveyancing
For more information on off the plan purchasing and conveyancing, visit:
“Thank you so much for your prompt reply to our concerns.”
Off the Plan Conveyancing Fees
Our off the plan conveyancing fees are cost-effective and competitive. We will give you a detailed fee estimate upfront, with full disclosure of all the associated costs and expenses, so you know what you are paying in advance. All our work is backed by our Value Guarantee, our promise of exceptional service.
Get a free off the plan conveyancing quote
Buy your off the plan property with Betar Lawyers.
Complete the form below for a conveyancing quote or to get our expert legal advice for your off the plan contract.
You can also call our team on +61 (0)2 9279 1100.