Buying “off the plan” means buying land, a townhouse, or an apartment that does not yet exist other than as a drawing on a proposed plan. It also means the property does not have its own title registered with the Land Titles Office.
Buying “off the plan” allows a buyer to secure the property before it is built, subdivided, and titled.
The law treats “off the plan” purchases differently to other purchasers and there are more restrictions on the vendor.
If you are selling “off the plan” or considering buying “off the plan” it is important to get the correct legal advice.
Bond Conveyancing, a property law firm, is here to help.
Reach out for a confidential and complimentary chat.