Off the Plan Sales/Purchases
An off-the-plan contract is a contract for the sale of land or a strata title unit or townhouse that has not been issued with a separate title on the date that the contract is entered into. Quinn & Scattini have many years of experience in dealing with conveyancing for off-the-plan property transactions in Queensland.
Checking of contracts is an important aspect of conveyancing, when dealing with buying and selling off-the-plan. There are problematic areas to be aware of when purchasing off-the-plan and careful consideration of the details of contracts is required on both the part of the buyer and the seller. These include complying with the strict disclosure requirements under legislation, including the Land Sales Act and the Body Corporate and Community Management Act. Failure to comply with these requirements as a seller will mean that the buyer may have a right to terminate the contract. Lack of scrutiny and attention to detail with regard to contract clauses can cause extra costs and time delays for developers and buyers alike.
These types of oversights can be avoided by engaging our conveyancing experts. Duncan Murdoch brings 18 years of conveyancing experience to oversee all conveyancing matters, ensuring that client's rights are protected. This specialised and personal service takes the stress out of off-the-plan conveyancing. Afterall, this type of property transfer requires clarity from the outset.
Professional conveyancing ensures that clients comply with the requirements of the Property Agents and Motor Dealers Act 2000. Queensland Conveyancing Protocol requires compliance with fundamental conditions. Breaches to this protocol can have serious penalty and cost, which can be avoided through professional guidance and expert handling. The accurate calculation of settlement figures and adjustments is an essential part of ensuring that the overall process runs smoothly.
Buying off-the-plan can have many advantages, including input to design and fittings at an early stage, saving money as surrounding property values increase, and getting a good price at the beginning of sales promotion. There are, however, disadvantages when buying the property "unseen". The payment of duties and the lodging of documents by due dates needs to be handled by experts, taking the worry out of the overall process.
Quinn & Scattini ensures a seamless process of conveyancing when buying or selling off-the-plan. We handle contract checking, disclosures, duties, and lodgements with professional care and attention to detail, taking the worry out of off-the plan transactions and avoiding unnecessary delays.
If you would like to find out how Quinn & Scattini can help you, please call us on 1800 999 529, or email us at mail@quinnscattini.com.au
