In this segment we discuss what the 5% tolerance is for off the plan contracts and projects. A very interesting case has emerged from the Supreme Court of Victoria that determined that a change in the lot size of a master bedroom in an off the plan purchase, that was less than 5% (4.4%), was considered substantial and material whereby the purchaser was allowed to rescind the contract and obtain their deposit back. This is different to the usual 5% tolerance the courts have set as precedent over the yeras, whereby only a change in lot size of more than 5% would be considered material. This is definitely a wake up call to developers for any proposed changes they are wanting to make on an off the plan project and interesting for buyers to note. It is a space to watch in Qld and NSW.
https://www.youtube.com/watch?v=wHNCtrd35XU
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 : 28th November 2021 | Words : 0 | Views : 222
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