Consumers need to pay attention to the documents attached to contract for sale of land and what their rights are prior to signing for purchasing Off the Plan properties.
When you first enter or about to enter into such contract for Off the Plan purchase, you will need to pay attention to not only to the architectural plans and drawings that are attached to the Contract, but also to the draft strata plan. Compare the area sizing in both the architectural and draft strata plan.
You will need to bear in mind that the dwelling that is transferred to you may not be exactly as the same size as what was in the architectural drawings or the draft strata plan that was attached to the contract. The contract for the sale of land generally provides for the Developers or the Builders to make minor variations and adjustments to what has initially been approved by Council or provided for in the documents attached to the contract.
Once a registered Strata Plan is sent out to the purchasers prior to the settlement, the Purchasers need to pay attention to the descriptions and measurements of what is actually registered. It is of no surprise that sometimes the measurements that are actually registered (or built) are different to the ones in the drawings and the plans that were attached to the contract for the sale of land.
At this point in time, if you see that there is a difference you need to seek legal advice as to whether you can or cannot opt out of purchasing this property. You may not be able to rescind the contract depending on the terms and conditions. However this may not be the only option. You will need to obtain legal advice prior to settling.
Written by Atul Singh