Buying off the plan

PRESS RELEASE:

The Owners Corporation Network (OCN) has announced a special half-day seminar to inform prospective apartment buyers of the features and common traps of buying an apartment off the plan.

OCN is the peak body representing apartment owners in NSW and Executive Officer, Karen Stiles, says that apartment living can be a wonderful lifestyle, but not all buildings and developers are the same.

“Apartment living is great, but there are some tricks and traps to buying into a new building or one that you’re purchasing off the plan,” Ms Stiles said.

“People need to be aware of the varying reputations of developers, the reality of display apartments and their rights as an occupant of a new building.”

On Saturday 27 October, OCN will host a seminar to provide advice to prospective apartment buyers about making an informed decision when choosing a property.

“The seminars will be presented by experts in the strata field, legal professionals, building consultants and experienced apartment owners,” Ms Stiles said.

“So there’ll be advice on what to look out for in legal terms, the physical state of the building and the management of the building.”

The seminar will be held at the Kirribilli Club in Milsons Point.

The first session on Saturday 27 October will focus on buying a new apartment (off the plan or completed).

There is a second session on Saturday 24 November looking at buying into an older building.

Cost is $40 per session or $65 for both.

Bookings essential. See http://www.ocn.org.au