Recently on the Gold Coast New Zealand buyers lost their $60,000 deposit because they were not able to settle on the settlement date on an off the plan contract. They asked for an extension. The developer refused. As a result, they lost their apartment. They then took to the media with their story and called the developer morally wrong' for not providing an extension. We are experts in off the plan projects and contracts. This segment is to provide the harsh reality and truth on off the plan contracts, that buyers should not expect the developer will simply grant an extension of time if they cannot settle. That is not how it works. Time is of the essence in Qld. Any buyer under an off the plan contract that receives legal advice that the developer will "most likely" grant an extension if they cannot settle on time, is being misled. Whilst we can all empathise with buyers who are in a situation where they cannot settle and run the risk of losing their 10% deposit, buyers need to know from day 1 when they sign that contract, the risks and the harsh reality that if they do not settle, they will very well lose their deposit, regardless of why they cannot settle. At Priala Legal we advise all of buyers of this very clearly and prep them at least 3 months in advance when the project is coming to completion, of how to be ready and reminding them again of the harsh reality if they cannot settle.
https://www.youtube.com/watch?v=MEBWck480cs
The show was designed to give back to the community which Despina did in droves. Her weekly radio show was broadcast on the Gold Coast each Thursday on 104.1FM Gold Coast/Tweed & 103.5FM Northern Rivers and had a substantial following since 2020. Despina talked about various hot topics at local, state and federal level, and answered the questions that ordinary Australians want to hear. And the best part, it was free.
In 2024, due to programming changes within the radio station itself, Despina then moved her radio show to being solely online on her Youtube channel: Despina Priala
Each week she brings another insightful episode of Talking Law for her loyal listeners and the greater Australian community.
Knowledge is power and Talking Law is very much about empowering the ordinary Australian with information that they should be aware of to help them in every day life.
All episodes of Talking Law with Despina are uploaded on the Priala Legal website and onto our YouTube channel here: https://www.youtube.com/channel/UCWmG7z-wIbsHY9KhFfrrWwQ
If you have any question you would like answered please contact us and we will do our best to answer them for you.
DISCLAIMER: The information discussed within the Talking Law videos is general in nature only and is not intended to be comprehensive, nor does it constitute legal or other advice in anyway, and should not be relied upon as such. The information is intended only to provide a summary and general overview on matters of interest and it is not intended to be comprehensive. You should seek legal or other professional advice before acting or relying on any of the content herein.
Posted By Despina Priala
Despina Priala has practised in property and commercial law on the Gold Coast for over 25 years and has extensive experience in this area.
Updated : 3rd December 2023 | Words : 258 | Views : 152
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