Off-the-plan purchase

Buying a property before it has been built or completed, based on plans. NSW off-the-plan contracts for residential lots carry specific protections, including a longer 10-business-day cooling-off p...

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Verified facts

• referenceDefinition: {"term":"Off-the-plan purchase","definition":"Buying a property before it has been built or completed, based on plans. NSW off-the-plan contracts for residential lots carry specific protections, including a longer 10-business-day cooling-off period, disclosure statement requirements, and rules around sunset-date rescission. Key risks: completion delays, finance validity at (potentially distant) settlement, and end value differing from expectations.","primarySource":"https://www.nsw.gov.au/housing-and-construction/buying-and-selling-property/buying-property-nsw/buying-property-off-plan"}