Buying Off the Plan? What you need to know about the “Sunset Clause”
A common approach to buying property is to enter into an Off the Plan Contract for the purchase of a unit or house that has not yet been built. An Off the Plan Property Contract allows you to lock in a purchase price based on the current property market and settle the contract once the development is complete. In some circumstances, it may take years before the development process is complete and settlement can occur.