{"id":92,"date":"2014-09-29T00:23:54","date_gmt":"2014-09-29T04:23:54","guid":{"rendered":"http:\/\/agrotislaw.com.au\/?page_id=92"},"modified":"2015-02-17T22:19:52","modified_gmt":"2015-02-18T03:19:52","slug":"news-and-information","status":"publish","type":"page","link":"http:\/\/agrotislaw.com.au\/?page_id=92","title":{"rendered":"News and Information"},"content":{"rendered":"<p><strong>&#8220;OFF THE PLAN\u201d PURCHASE\/SALE<\/strong><\/p>\n<p>This is where a purchaser and vendor enter into a contract to buy or sell property before a plan of subdivision has been registered.  This type of sale usually involves apartment developments. <\/p>\n<p>A  purchaser  benefits  with substantial stamp duty savings, as the  duty is calculated on the value of the property, that is, the land and any improvements as at the date of the contract. For a vendor, selling off the plan can assist to increase the capital base to enable the project to progress.<\/p>\n<p>As  the  contract  is  usually  signed  before  any  construction  starts  on  the  site,  the purchaser should be mindful  that the completion date stated  in the contract  may not coincide  with  the  actual  completion  date  of  the  works.  Delays  in  construction  are sometimes inevitable.<\/p>\n<p>A purchaser should keep in mind that:<\/p>\n<p>&#8211;  The  vendor  may  need  to  alter  and  amend  the  original  project  plans,  as  some design or construction element may have emerged that was previously unknown.<\/p>\n<p>&#8211;  The purchaser is required to proceed to settlement within 14 days of being notified of the registration of the Plan of Subdivision.<\/p>\n<p>&#8211;  Postponement  of  settlement  if  a  purchaser  feels  the  unit  is  not  \u2018finished\u2019  is  not permitted and may result in a penalty payment to the vendor.<\/p>\n<p>&#8211;  Rectification of any recognised defects will usually occur after the settlement date. Under the Sale of Land Act 1962, before  entering into a  contract  the vendor must give  the  purchaser  certain  documents  to  enable  the  purchaser  to  make  a  better informed  decision  on  whether  to  proceed  under  contract.   Therefore,  all  parties should fully discuss their aims and goals with their lawyer before buying or selling off the plan.<\/p>\n<p>Our  firm  has  many  years  experience  in  dealing  with  off  the  plan  sales  and  we welcome the opportunity  to assist with preparation of contracts for vendors or  assist in purchases.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;OFF THE PLAN\u201d PURCHASE\/SALE This is where a purchaser and vendor enter into a contract to buy or sell property before a plan of subdivision has been registered. This type of sale usually involves apartment developments. A purchaser benefits with substantial stamp duty savings, as the duty is calculated on the value of the property, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"_links":{"self":[{"href":"http:\/\/agrotislaw.com.au\/index.php?rest_route=\/wp\/v2\/pages\/92"}],"collection":[{"href":"http:\/\/agrotislaw.com.au\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"http:\/\/agrotislaw.com.au\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"http:\/\/agrotislaw.com.au\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/agrotislaw.com.au\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=92"}],"version-history":[{"count":7,"href":"http:\/\/agrotislaw.com.au\/index.php?rest_route=\/wp\/v2\/pages\/92\/revisions"}],"predecessor-version":[{"id":125,"href":"http:\/\/agrotislaw.com.au\/index.php?rest_route=\/wp\/v2\/pages\/92\/revisions\/125"}],"wp:attachment":[{"href":"http:\/\/agrotislaw.com.au\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=92"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}