Chilling impact of construction collapses

Buying off-the-plan is always risky (even if your builder/developer doesn’t go into liquidation). A few years ago, NSW introduced a law preventing developers from terminating off-the-plan without the buyer’s agreement or court consent. Prior to that, some unscrupulous developers took advantage of the rising property market by intentionally delaying developments to terminate contracts and then reselling at a higher price.

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from Phang Legal https://ift.tt/WAZodpg