New laws award extra protection to off-the-plan buyers | Owners Corporation Network

New laws award extra protection to off-the-plan buyers

It looked like it would be a stunning apartment in a fabulous complex, with its own running track, swimming pool and tennis court.  But, when first-home buyer Paul Pierpoint went to inspect the finished unit he bought off the plan, he was shocked. In place of the glamorous promised facilities was a bare concrete slab, and it turned out the developer hadn’t even submitted a DA for the eye-catching enhancements.  Inside the apartment, things were even worse. Such nightmare off-the-plan scenarios could become a thing of the past with a new bill introduced into the NSW Parliament, and expected to pass in November. "People buying apartments off the plan previously had less consumer protection than they would have had buying a toaster,” said Owners Corporation Network spokesperson Stephen Goddard.
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