Protecting Your Interests: Navigating the Risks of Off the Plan Contracts with John Gallagher

Buying an apartment off the plan can be a daunting process, with many uncertainties and risks for both buyers and developers. One of the biggest risks is the possibility that the seller may exercise a right terminate the contract in the future, leaving the buyer without a property and potentially facing the loss of profits that were otherwise assured.

At Argon Law, we understand the challenges that parties face when entering into off the plan contracts. We have extensive experience in both property law advice and the commercial litigation that can arise when there is a dispute over such a contract. This makes us well-qualified to protect buyers from the risks associated with these types of contracts.

One of the main issues that buyers face is the presence of clauses in the contract that allow the seller to terminate the contract in certain circumstances. Developers will look to rely on such clauses if the cost of construction increases to the point where the seller will make a loss on the sale or where the market price for the property has increased significantly since the contract was signed. These clauses are often hidden in the fine print of the contract and can be difficult for buyers to identify.

However, our experienced property lawyers have a keen eye for identifying such clauses and can advise clients on how to negotiate them or even remove them from the contract altogether. We can also advise buyers on the potential risks and consequences of these clauses, and provide guidance on how to protect their interests in such situations.

In addition, if a buyer does find themselves in a situation where the seller has terminated the contract, we have the expertise and experience to handle the commercial litigation necessary to protect our clients’ interests. We understand the complexities of property law and have a proven track record of success in such cases.

Overall, buying an apartment off the plan can be a risky venture, but Argon Law is well-equipped to advise and protect clients from the risks associated with these types of contracts. With our extensive experience in property law advice and commercial litigation, we can provide buyers with the guidance they need to enter into these contracts with confidence.