When purchasing a property "Off the Plan" this means that you may have a very long period between signing the contract and settlement or it could be a quick time depending on what stage you sign your Contract.
The development needs to go through many stages of approvals, and the build needs to be completed. Once the new Certificates of Title for each apartment or unit are issued by the Land Titles Office, and the practical completion has been reached by the builders and certifiers have signed off on the building, settlements are able to then take place.
Some Contracts will stipulate that your finance approvals will be due much earlier than the plan deposit dates, so it is best to speak with our office together with your Banker or Broker as to this and what it may mean for you once the plan has deposited and settlement gets closer.
Contact us for your off the plan purchase and we will guide you through the steps and be with you the whole way.