Skip to content Skip to main navigation

Ask RiotACT

Forget about garage sales
More buyers, More profit, Less stress

Ask RiotACT: off the plan contracts

By jayne2016 9 July 2016 2

Ask Riot

Hi Rioters.

Does anyone have experience with rescission of contract when purchasing off the plan?

What’s Your opinion?


Please login to post your comments, or connect with
2 Responses to
Ask RiotACT: off the plan contracts
Filter
Showing only Website comments
Order
Newest to Oldest
Oldest to Newst
devils_advocate 10:54 am 20 Jul 16

greenbamboo said :

I did investigate this once. You’d have to have a pretty good reason to expect to walk away without forfeiting your deposit.

I know of one person that rescinded an off-the-plan contract and got their deposit back due to massive delays with the project being completed. However, at that time, there was still reasonable growth in the apartments market, so the developer was probably able to re-allocate the apartment, potentially at a profit.

In the current market, the developer might put up a bigger fight.

gbates 7:07 pm 12 Jul 16

I did investigate this once. You’d have to have a pretty good reason to expect to walk away without forfeiting your deposit.

Related Articles

CBR Tweets

Sign up to our newsletter

Top
Copyright © 2018 Riot ACT Holdings Pty Ltd. All rights reserved.
the-riotact.com | aboutregional.com.au | b2bmagazine.com.au | thisiscanberra.com

Search across the site