Off-the-Plan Transactions
Legal Guidance for Off-the-Plan Property Purchases
Buying an off-the-plan property is different from purchasing an established property. You may be entering into a contract before construction is complete, and the final property may depend on plans, specifications and contractual provisions.
At Fidus Legal, we assist clients with legal matters relating to off-the-plan property transactions. Our team can help you understand the contractual arrangements and discuss the legal issues relevant to your proposed purchase.
Legal Guidance for Off-the-Plan Property Purchases
Buying an off-the-plan property is different from purchasing an established property. You may be entering into a contract before construction is complete, and the final property may depend on plans, specifications and contractual provisions.
At Fidus Legal, we assist clients with legal matters relating to off-the-plan property transactions. Our team can help you understand the contractual arrangements and discuss the legal issues relevant to your proposed purchase.
What Is an Off-the-Plan Purchase?
An off-the-plan purchase generally involves buying a property before it has been completed or in some circumstances, before the final property is available in its completed form.
The contract may contain provisions relating to:
• Property plans and specifications.
• Construction and completion arrangements.
• Settlement requirements.
• Contractual conditions and special conditions.
• Changes to the property or development.
• Other matters specific to the transaction.
The applicable terms and legal considerations will depend on the contract and relevant jurisdiction
Off-the-Plan Contract Review
Before committing to an off-the-plan purchase, it is important to understand the legal terms of the contract. Our legal team can review relevant documentation and discuss the matters that may be important for your circumstances.
Our assistance may cover:
• Reviewing the proposed contract.
• Explaining relevant contractual provisions.
• Discussing special conditions and purchaser obligations.
• Identifying contractual matters that may require clarification.
• Providing guidance on legal issues arising from the transaction.
• Supporting you through the relevant legal stages of the purchase.
What Should Buyers Consider?
Every off-the-plan transaction is different. Depending on your circumstances.
Contract Terms
Completion & Settlement
Review the arrangements and conditions relating to completion and settlement.
Plans & Specifications
Understand how the contractual documents describe the proposed property.
Changes & Variations
Discuss provisions that may relate to changes to plans, specifications or the development, where applicable
Financial Planning
Consider your own financial arrangements and obtain appropriate financial advice where required.