Residential off-the-plan purchases in NSW come with extra protections: the developer must attach a disclosure statement and draft plan, the cooling-off period is 10 business days rather than 5, your deposit stays in a trust or controlled money account until completion, and the developer can end the contract under a sunset clause only with your consent or a Supreme Court order. We review these terms before you sign and again before completion.
For a residential off-the-plan contract it is 10 business days, ending at 5pm on the tenth business day after the contract is made.
A buyer who rescinds in that time forfeits 0.25% of the purchase price, and the period can be waived or shortened only with a section 66W certificate from the buyer's own solicitor or licensed conveyancer.
It has two stages: reviewing the contract package before you sign, then completing once the plan is registered.
The package includes the disclosure statement, the draft plan and, where they apply, the proposed by-laws and the schedule of finishes. Between those stages we advise on any notice of changes from the developer and on sunset date issues.
Only with your written consent or a Supreme Court order, which the Court makes only if it is just and equitable.
The developer must first give you at least 28 days' written notice explaining why it proposes to rescind and why the sunset event has not happened, and it generally pays your costs of the court proceedings.
We quote in writing after seeing the developer's contract package, because a disclosure statement, by-laws and special conditions vary a great deal between developments.
The quote sets out the review before you sign and the completion work as separate parts, with searches and government charges listed as disbursements.
| Scenario | Best option | Typical timing | Next step |
|---|---|---|---|
| Apartment in a building that is not yet finished | Contract and disclosure statement review before you sign | 10 business day cooling-off; completion after the registered plan is served | Send the full contract package from the developer |
| Developer notifies a change to the plan or finishes | Advice on whether to rescind, claim compensation or proceed | Act promptly: the notice starts a 14-day period | Send the notice and your original disclosure statement |
| Sunset date approaching without completion | Advice before you consent to any rescission or variation | At least 28 days' written notice is required before a rescission | Send the developer's notice and your contract |
Published by Baulkham Hills Conveyancing, a licensed NSW solicitor practice. Last updated 4 October 2026. General information only; contact us for advice about your matter.
Before you sign a residential off-the-plan contract, the developer must attach a disclosure statement in the Registrar General's approved form under section 66ZM of the Conveyancing Act 1919, with a draft plan prepared by a registered surveyor, the proposed by-laws if the lot will be in a strata or community scheme, and a schedule of finishes if building work is part of the contract. If the disclosure statement is not attached, you may rescind by written notice during the 14 days after the contract is made, unless the contract has been completed.
If a change makes the disclosure statement inaccurate in a material particular, such as a change to the plan, by-laws, finishes or easements that adversely affects the use or enjoyment of the lot, the developer must notify you. You can rescind only if you would not have entered into the contract had you known of the change and you would be materially prejudiced by it (sections 66ZO and 66ZP of the Conveyancing Act 1919). If you have that right, you can instead claim compensation of up to 2% of the price before completion. Either way, you must act no later than 14 days after the notice, or after service of the registered plan that reveals the change.
The developer must give you the registered plan and related documents at least 21 days before you can be required to complete.
Sources: Off the plan contracts; New requirements for off the plan contracts from 1 December 2019; Buying property off the plan; Conveyancing Act 1919 (NSW), section 66ZO: Purchaser's right to rescind after service of notice of changes; Conveyancing Act 1919 (NSW), section 66ZP: Purchaser's right to rescind after service of registered plan
For contracts made from 1 December 2019, any deposit or instalment must be held by the stakeholder in a trust or controlled money account and cannot be released to the developer before completion. A 10% deposit is common practice, and a deposit bond or bank guarantee can replace a cash deposit only if the developer agrees before you sign.
A sunset clause cannot operate automatically under section 66ZS. Sunset events include creation of the lot and issue of the occupation certificate; if one has not happened by the sunset date, the developer still needs your consent or a Supreme Court order to rescind, so get advice before you agree to any variation or rescission.
Sources: New requirements for off the plan contracts from 1 December 2019; Buying property off the plan; Off the plan contracts
Owner-occupiers buying off the plan can defer transfer duty until the earliest of completion, assignment of the contract or 15 months after the contract date. The deferral is not available if you are buying vacant land only, such as a land lot in a new estate, if any buyer is a foreign person, or if the property will not be your principal place of residence. For contracts from 1 July 2023, at least one buyer must move in within 12 months of completion and live there for 12 continuous months. Your legal representative applies for the deferral; it is not automatic.
Eligible first home buyers can also use the First Home Buyers Assistance Scheme on a new home, and a first new home may qualify for the First Home Owner (New Homes) Grant within its value caps.
Sources: Off-the-plan property purchases; First Home Buyers Assistance Scheme; First Home Owner (New Homes) Grant
Completion follows registration of the plan, which can be a long time after you sign. Your loan pre-approval may expire and your circumstances can change in the meantime, so we review your finance position with you when the registered plan is served.
Sources: Building defect complaints
You can rescind only if the change makes the disclosure statement inaccurate in a material particular, you would not have entered into the contract had you known of it, and you would be materially prejudiced by it. If so, you can instead claim compensation of up to 2% of the price before completion. You must act no later than 14 days after the developer's notice, or after service of the registered plan that reveals the change. Changes that are not material are dealt with under the contract's own terms.
Yes, if you are buying a home to be built or completed before settlement (not vacant land only), you will live in it as your principal place of residence, and no buyer is a foreign person. Duty is then payable at the earliest of completion, assignment or 15 months after the contract date, rather than by the usual deadline. For contracts from 1 July 2023, one buyer must move in within 12 months of completion and live there for 12 continuous months, and the deferral must be applied for.
Yes. The First Home Buyers Assistance Scheme covers new homes, so an eligible first home buyer pays no transfer duty on an off-the-plan home valued at $800,000 or less and a concessional rate below $1,000,000. We check your eligibility before you sign.
For a residential off-the-plan contract made from 1 December 2019, the law requires any deposit to be held in a trust or controlled money account and not released to the developer before completion, which protects buyers if the developer becomes insolvent. Check who the stakeholder is and how the deposit will be held before you pay it.
You cannot be required to complete until at least 21 days after the developer gives you the registered plan and related documents. The completion clause in your contract then sets the actual date.
Ready to start? Send us the contract or property details: call (02) 9000 1408, email info@baulkhamhillsconveyancing.com.au or request a quote online.