Finally some good news for OTP buyers NSW in relation to dodgy developers enacting the Sunset clause when prices have risen substantially. From today...developers will need to argue in the supreme court as to grounds to why a contract is to be rescinded... http://www.domain.com.au/news/new-p...ced-to-parliament-this-month-20151031-gknckw/ Having said that...I see OTP very risky....I don not think a lot will value up as the Sydney market corrects after a massive boom.
Cool, that sounds like a good news for OTP buyer... But yes, there will be no more high margin profit investing in OTP Apartment or H&L.
About time. Surprised this didn't take a few years to push through. I'm guessing this is more likely in a buyers market but would a developer accept a clause along the lines of 'upon completion if it values at 95% or less of the contract price, the buyer can terminate and have the deposit refunded'?
