#63804
kaindub
Flatchatter

    I may be wrong, but when you “buy” off the plan, what you have done is enter into a contract to purchase a particular lot in the future. In real estate a purchase can only occur when their is a titled property.

    So your purchase does not take place until the strata subdivision is registered, and their are title documents for each lot.

    Whilst under LPS it’s all electronic, I imagine that checking that  all the documents are in order may take some time, assuming everything has been submitted.

    Remember that under the system we have, the title of your property is guaranteed. If LPS gets it wrong they’re liable to pay compensation, which of course they want to avoid.