The PROPERTY DOCTORS, Sydney Australia Novak Properties
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The PROPERTY DOCTORS, Sydney Australia Novak Properties
EP. 1500 - DEVELOPERS GETTING THEIR HANDS ON YOUR DEPOSIT WHEN BUYING OFF THE PLAN? TRUE OR FALSE?
đź’° Buying off the plan? Ever wondered if the developer gets to touch your hard-earned deposit?
The truth: No. Your 10% sits safely in a trust account (agent’s or solicitor’s) until settlement. ✅
Here’s what else you need to know:
✔️ If the project never gets delivered → you get your deposit back.
✔️ Deposit counts toward your final purchase price.
✔️ In some cases, the interest earned is shared.
✔️ On the Northern Beaches, off-the-plan buyers have never lost money when holding long-term.
👉 Don’t let myths hold you back. Off-the-plan can be a smart move in low-supply areas.
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