When Developers or Builders are building property on land which they want sold, they may offer it for sale “off the plan”, whether they have commenced construction or not. This effectively means you are buying that land and the property which is shown on paper, ie. the plans and specifications.
The standard Contract allows the Developer or Builder 6 months to complete the project, however the Contract can be altered to reflect a different completion time.
Please bring the Contract to me for review. Once the project is complete and notice of this is given by the Developer or Builder, the precise completion date becomes known and settlement must be effected. There are certain extra issues to consider when buying ‘off the plan’.
Please telephone me to discuss this further.