Buyer Beware seminar gives good advice
The WAAA was delighted to host the Buyer Beware - buying off a plan seminar recently with Tim Morgan of Lavan.
Tim gave some good tips during the session including:
If you receive a notice of variation from the developer during the time of construction you must attend to this within 7 days of receipt. If the variation is deemed significant then this does provide the opportunity for the buyer to cancel the contract. But once again this needs to be dealt with in the 7 day period.
Buyers can also terminate the contract if the deposit is not held by an independent party
Buyers can consider adding additional clauses to the sales contract including the option that if the buyer dies during the construction phase, then the contract becomes null and void!
Thanks to Tim and the attendees who joined us for this invaluable session!