Securing Bank Finance Through Presales
Most development financiers require presale contracts before releasing construction funds. A well-drafted off-the-plan contract demonstrates genuine buyer commitment and gives lenders confidence in your project's viability. We prepare contracts that satisfy major bank presale requirements, including appropriate deposit amounts, unconditional terms, and compliant sunset provisions.
Your contracts need to be structured so presale valuers can rely on them. Conditional contracts or those with unusual terms may be discounted or rejected by lenders. We ensure your documentation meets industry standards for presale recognition.
Managing Risk During the Subdivision Process
The period between contract signing and settlement carries risks for both parties. Construction delays, council conditions, and SPEAR system processing can all affect your timeline. Your contract must allocate these risks appropriately.
We include special conditions addressing common subdivision scenarios: variations to lot boundaries, changes to Owners Corporation entitlements, additional Section 173 agreement requirements, and adjustments to common property. These provisions give you flexibility to respond to issues without breaching your contracts.
Owners Corporation Disclosure Requirements
If your subdivision creates an Owners Corporation, purchasers must receive detailed disclosure about fees, rules, and governance. We prepare Owners Corporation disclosure statements that comply with the Owners Corporations Act 2006. This includes draft rules, estimated levies, insurance arrangements, and maintenance obligations for common property.
Incomplete disclosure creates rescission rights. Purchasers can walk away from contracts if they don't receive proper Owners Corporation information within required timeframes. Our documentation prevents this outcome.
Coordinating with Your Project Team
Off-the-plan contracts must align with your surveyor's plan of subdivision and your planner's permit conditions. We coordinate with your consultants to ensure lot descriptions, easement details, and restriction language match across all documents. This prevents delays at SPEAR lodgement when Land Use Victoria reviews your application.
Contract amendments may be needed as your project progresses. We manage variations efficiently, ensuring purchasers receive proper notice and updated disclosure where required.
Settlement and Title Registration
When your plan of subdivision is registered, settlement can proceed. We prepare settlement statements, arrange title transfers, and coordinate with purchaser solicitors. For multi-lot projects, we manage staged settlements based on construction completion and registration timing.
Our register plan of subdivision lawyer services integrate with contract preparation, giving you consistent legal support from presale through to final settlement.
