HOW DOES SETTLEMENT WORK FOR OFF-THE-PLAN PROPERTIES?
A number of people often ask - “what is the settlement process when buying a property off-the-plan?”
The simple answer is that the settlement process of an off-the-plan buying journey is in fact not too dissimilar to that in the established market.
Given that the property is not yet built, the major difference is the time-frame from exchange to settlement. The standard settlement for established properties is around six to eight weeks.
This has a number of pros for buyers...