Worried about buying off the plan?
We have all heard the stories of people who purchased a house or unit off the plan, only to later find out that the property has major structural defects. There have been a number of news stories of tenants in apartments at Homebush and Mascot who have had to move out of their homes indefinitely.
Understandably these recent reports have made others worried about buying property off the plan - particularly a unit within a large apartment complex where the developer / builder may not have Home Owner Warranty Insurance in place.
Fair Trading NSW has published some useful information on their website for persons who are thinking about buying a property off the plan. We recommend looking at this website as a starting point for anyone considering this type of purchase.
Where can I get more information?
We assist with all types of off the plan conveyancing matters. We can help you understand the risks and pitfalls with buying property off the plan, and we can explain what your legal rights would be if things went wrong. Contact us on (02) 4244 4947 or send us an email.
Want to know how much stamp duty you have to pay?
Revenue NSW has a free online stamp duty calculator.