An off-the-plan contract is a contract for the sale and purchase of land in Western Australia where that land is not a separate and distinct lot (or lots) at the date of the contract. In other words, the subdivision of the land is yet to be complete at the contract date.
Off-the-plan contracts may be for vacant land, including new greenacre subdivisions and house and land packages. Off-the-plan contracts are also common for new strata-titled developments, such as apartments, units, villas and townhouses.
Special laws apply to off-the-plan contracts. The laws vary depending on whether the contract is for land (green title) or a strata lot. In all cases, the seller is required to give the buyer additional disclosure materials associated with the proposed subdivision.
All off-the-plan contracts involve a level of complexity associated with the subdivision of the land. Particularly in the case of built strata properties, these contracts can be very long, detailed and are generally drafted in favour of the seller/developer.
We charge an upfront fee of $550 to analyse the contract. This fixed fee is additional to our flat rate settlement fee. We need to so this in order to have a full understanding of the terms and conditions (which vary from contract to contract). We will give you a letter of advice summarising important obligations under the contract and liaise with you and the other party as to the progress of subdivision.