New laws are set to be introduced to Parliament later this year which will offer stronger protections to buyers of off the plan properties and will also offer greater flexibility around electronic agreements and signing digitally.
What further protections are likely to be made into law?
Lastly, in keeping in line with the general transition to e-conveyancing and living in an online world – parties will be able to enter into contracts electronically with digital signing and witnessing to be permissible. Vendor disclosure may also be provided electronically.
The above changes will no doubt be welcomed by buyers of off-the-plan properties as we have all too often read in the past about purchasers being left with little or no remedy against developers. We will put out a blog when the above has become law.