3 Things For Buying Off-The-Plan That People Often Miss

I’m always on the hunt for relevant info and I loved this - one of the best articles I’ve seen on this topic for a while. Here are a few paragraphs as a taster...

Let’s face it, spending a huge amount of money on a property can be exhilarating; especially when you get to tailor the finishing touches.

Off-the-plan properties are great because on paper they are the best thing since sliced bread, but if you’re not careful you can end up in a bit of unnecessary distress.

It’s key to not forget that there are several moving parts to the process of buying a house though, and these need to line up correctly for things to be successful.

Here are three top tips which may help to ensure off-the-plan transactions have a positive outcome for you.

1. Make sure the contract is correct

This may seem a little obvious, but it is a common mistake made by many in real estate situations. Signing a contract which states it is ‘subject to finance’ is to your benefit.

An ‘unconditional contract’ will tie you in to a situation and then the bank may decide not to lend you the money. This could leave you in a potentially sticky situation, especially before a formal valuation has been completed.

It is also super important to be aware of the fact that some contracts do not always allow you to sell a property before completion. When having the contract written up, it is in your favour to ask for this kind of clause to be deleted or revised.

Pretty valuable stuff, I’m sure you’ll agree! Why not check out the whole article here and share your thoughts with me afterwards: call (0403) 296-221 or email me at tammie@2020homeloans.com.au  

Thanks,

Tammie