02/11/2018
New bill introduced in parliament to add further protections for buyers....
NSW Minister for Finance, Services and Property Victor Dominello said it would allow buyers to terminate a contract or claim compensation if they’re affected by changes to a building, and will force developers to provide a copy of the final plan 21 days before settlement.
This new bill changing the Conveyancing Act will also widen legislation to clarify that the NSW Supreme Court can award damages in such cases, as well as making sure buyers are provided with proposed plans, bylaws and schedules of finishes before contracts are signed, and extending the cooling-off period to 10 business days.
First-home buyer Paul Pierpoint was shocked to discover his finished apartment was nothing like what was advertised, but cases like his could be a thing of the past.