Buying off the plan can be exciting, but it also comes with unique risks. You are committing to a property that has not yet been built, based only on plans, specifications and the developer’s proposed design.

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Off-the-plan purchases are common for apartments, townhouses and house-and-land packages. In most cases, the developer requires a deposit on signing, with the balance payable once construction is completed. This process can take many months or even several years.

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Off-the-plan contracts are usually longer and more complex than standard purchase contracts. They often contain special conditions that favour the developer, including provisions about construction timeframes, changes to the property, settlement periods and the purchaser’s obligations during the build.

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Because of this, it is important to have the contract reviewed before you sign.

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At Innova Legal, we review off-the-plan contracts, explain the risks, and negotiate key terms where possible. Our goal is to make sure you understand exactly what you are agreeing to and to protect your interests throughout the process, from contract review through to settlement.