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New amendments for off the plan properties

Buying off the plan? Were you aware of the new legislative amendments below effective from 1 December 2018?

  • vendors must provide purchasers with proposed plans and relevant details for the Property before contracts for sale can be signed;
  • they will also be required to provide the purchasers with the final plans and notice of any changes made at least 21 days before completion of the contract for sale;
  • any changes to the proposed plans which materially affect the purchaser will now allow the purchaser the right to terminate the contract for sale;
  • damages may be paid to purchasers in certain circumstances where the vendor terminates the contract for sale during a sunset period; and
  • cooling-off periods for sales will be extended from 5 to 10 business days.

Need to know more? Please call us on 0248 612 345

Please note this blog is general in nature and for information purposes only and should not be relied on for legal advice. Should you require advice regarding the information in this email please contact us so we may provide advice specific to your needs and circumstances.

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