POSTED: 16 Jun 2020
In this day and age, it is common to purchase units “off the plan”, meaning a unit in a building which has not been finalized, or even commenced. As most of these kinds of units are in apartment complexes or like buildings, car parking is often an essential aspect of the property being acquired. There are however inherent significant risks for a Purchaser in entering into these kinds of arrangements. As you are purchasing property not yet constructed, it may be that certain elements of the property are not exactly as pictured, or as agreed. The location of car spaces or storage units may also be different to initially described, if described at all.