I am looking to purchase a shop 'off plan' in a mixed development. Residential & Commercial (shops with apartments above).
In Contact of Sale settlement monies are payable 14 days after Registration of Proposed Subdivision Plan.
Is it common/possible for the commercial shops to be certified/registered prior to residential apartments above?
Developments can be completed in stages with some sections registered before others. However with it being shops and units above them I really doubt that this would be the case. It would all be done in one go.
I agree with HomeLoanExperts. Stages are more common in multi building developments. Shops are often the hardest part of the development to sell, so negotiate hard if you are a pre-sale buyer.
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