All Topics / Finance / deposit/balance on property under construction

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  • Profile photo of ZumaZuma
    Member
    @zuma
    Join Date: 2006
    Post Count: 12
    November 13, 2006 - 3:20 pm

    I know that the standard exchange of money on a regular unit purchase is 10% deposit and the balance in 30 or 60 days.

    Does the same apply for units that are under construction? If you’re buying off the plan, or at least before it’s complete, do the same rules apply or do you pay when the unit is complete?

    Thanks,
    Rowan.

    Profile photo of TerrywTerryw
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    @terryw
    Join Date: 2001
    Post Count: 16,213
    November 14, 2006 - 12:04 am

    You generally pay when complete, which may be years down the track.

    Terryw
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    Profile photo of ZumaZuma
    Member
    @zuma
    Join Date: 2006
    Post Count: 12
    November 14, 2006 - 2:45 am

    Thanks.

    Rowan.

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