Project Buyer FAQs

Following exchange, the completed paperwork goes off to either yourselves or to your nominated legal representative. Your agreed deposit will be then placed in the vendor’s legal representatives trust account.

There are numerous milestones along the way that should be communicated to you, including;

If the tender process to appoint a builder hadn't already been completed at the time of your purchase, then the developer will complete this process and the successful builder will then be announced.

Once the necessary building permits have been sourced from the various authorities, construction can then commence.

If construction is either yet to commence or in its very early stages, you’ll be invited to provide us with a list of your requested variations, noting that not all purchasers requested changes can be accredited.

Often this process can extend from weeks to months, whilst the project manager liaises with the builder to provide you with a quote for your requested upgrades. Then, prior to a then specified date, you’ll be asked to approve the quote (or otherwise) and then remit payment directly to the developer.

Construction updates, including information on current works and accompanying photos, should be emailed to you typically on a quarterly basis. (some may be more frequently).

Alternatively, our Marshall White Projects construction portal is online to be viewed any time.

Unprecedented events tell us, that suggested forecast completion and settlement dates are typically best-case scenarios. Sometimes unforeseen circumstances such as COVID supply issues or labour shortages will cause delays, outside both the builders and developers control.

As construction approaches completion, a settlement company will be appointed to then assist you with your journey through to settlement. As they come on board, they will then reach out and provide you with the appropriate contacts going forward.

Their role includes a number of tasks, such as taking your valuer through your new property (if you're financing your purchase), coordinating your accompanied final inspection and detailing (with you) any last-minute defects that require the builders attention.

During construction, it's prudent for those financing their purchase, to check in regularly with your finance broker or banker, ensuring you're able to take advantage of the best finance options available at settlement. It's also worth checking both the State and Federal Governments portals, to see what Government schemes and grants may be available to you.

Your selling salesperson will undertake to stay connected with you along the journey from sale to settlement. We have also listed key people from Marshall White Projects, who are also here to help, if required:

• Contact projectsconcierge@marshallwhite.com.au
• Emily Evans (Head of Marshall White Projects Operations); Contact emily.evans@marshallwhite.com.au
• Sindy Ooi (Head of Marshall White Projects Trust Account); Contact sindy.ooi@marshallwhite.com.au
• Mark Dayman (Director of Marshall White Projects); Contact mark.dayman@marshallwhite.com.au or call 0409 342 462

Again, we take this opportunity to thank you for purchasing your brand-new property through Marshall White Projects. Should you have any additional property requirements, such as selling, buying, or leasing residential Real Estate, then we would be delighted to further assist.

The State Government recently announced the extension of the new off the plan stamp duty concessions until October 2026. This is designed to both encourage development and to level the playing field with regards to incentives for both owner occupiers and investors. 

 These new concessions will apply within strata subdivisions where the contract is entered into from the 21st of October 2024 for a 12-month period. The State Government estimates that it could reduce the stamp duty of buyers of a off the plan $620,000 apartment down to just $4,000, representing a $28,000 saving. 

 These concessions are not intended to apply to house and land packages nor will it be applied retrospectively to contracts entered into prior to the 21st of October 2024. 

 Whilst there will be no cap on the property value and now no limitation on a purchaser’s eligibility criteria, it now makes these concessions available to all purchasers including investors, companies, and trusts. It will also apply to foreign purchasers; however, the significant foreign buyer surcharges will remain. 

 Click on the following tab for more www.sro.vic.gov.au/temporary-plan-duty-concession

There are a number of State and Federal Government Schemes for Off-The-Plan Purchasers that you should be aware of as they could potentially save you thousands.

Click on the tabs below to see what’s available. Prior to proceeding you should always check with the relevant body first to see if you qualify.

First Home Owner

First Home Loan Deposit Scheme

First Home Super Saver Scheme

Foreign Purchasers

Off-the-Plan Benefits

Downsizer Superannuation Contributions

Victoria Homebuyer Fund

Most contracts of sales will have a clause referring to the provisions of an animal occupying a group of apartments or townhome.

It’s worth noting that Owners Corporations are limited in their scope to ban pets – and even when rules have been made to ban them, they have been struck down by VCAT.

Speak to your legal professional if you’re unsure.

Many of our downsizers are in the fortunate position of determining their own timing with regards to when to move from their family home.

Those buyers who are risk adverse may choose to sell within the same market they purchased, and then willingly make two moves.

Others will follow their new homes progress on our construction portal and then sell the family home closer to completion of their apartment or townhouse.

It’s always prudent to talk to one of our local residential experts with regards to a market appraisal of your current exisiting property or simply gain important insights into the current market conditions.

Often for a particular project the vendor is the developer rather than the builder, so a builder will then need to be appointed.

Regularly the tender process for a builder’s appointment runs consecutively with a projects launch to the market.

If the tender process is still ongoing, ask to see the panel of builders on the tender list allowing you to do your homework by looking at their experience either online or by driving past completed projects.

Since 1 July 2018, eligible Australians over the age of 65 wishing to downsize have been able to contribute up to $300,000 into superannuation from the sale of their home. Existing contribution caps and restrictions will not apply to the downsizer contribution. This measure endeavours to free up larger homes for growing families. Find out more.

The State Government recently announced the immediate introduction of new off the plan stamp duty concessions for the next 12 months. This is designed to both encourage development and to level the playing field with regards to incentives for both owner occupiers and investors. 

 These new concessions will apply within strata subdivisions where the contract is entered into from the 21st of October 2024 for a 12-month period. The State Government estimates that it could reduce the stamp duty of buyers of a off the plan $620,000 apartment down to just $4,000, representing a $28,000 saving. 

 Whilst the Amendment Bill is shortly to move through the State Parliament, all existing concessions will remain but will now be uncapped as to the property value.

 These concessions are not intended to apply to house and land packages nor will it be applied retrospectively to contracts entered into prior to the 21st of October 2024. 

 Whilst there will be no cap on the property value and now no limitation on a purchaser’s eligibility criteria, it now makes these concessions available to all purchasers including investors, companies, and trusts. It will also apply to foreign purchasers; however, the significant foreign buyer surcharges will remain. 

 Clink on the following tab for more www.sro.vic.gov.au/temporary-plan-duty-concession

There are a number of State and Federal Government Schemes for Off-The-Plan Purchasers that you should be aware of as they could potentially save you thousands.

Click on the tabs below to see what’s available. Prior to proceeding you should always check with the relevant body first to see if you qualify.

First Home Owner

First Home Scheme

Foreign Purchasers

Off-the-Plan Benefits

Victoria Homebuyer Fund

If you are buying a new home, you could be eligible for the First Home Owner Grant of $10,000.

For this concession and others, click on the link

The State Government recently announced the immediate introduction of new off the plan stamp duty concessions for the next 12 months. This is designed to both encourage development and to level the playing field with regards to incentives for both owner occupiers and investors. 

These new concessions will apply within strata subdivisions where the contract is entered into from the 21st of October 2024 for a 12-month period. The State Government estimates that it could reduce the stamp duty of buyers of a off the plan $620,000 apartment down to just $4,000, representing a $28,000 saving. 

Whilst the Amendment Bill is shortly to move through the State Parliament, all existing concessions will remain but will now be uncapped as to the property value.

These concessions are not intended to apply to house and land packages nor will it be applied retrospectively to contracts entered into prior to the 21st of October 2024. 

Whilst there will be no cap on the property value and now no limitation on a purchaser’s eligibility criteria, it now makes these concessions available to all purchasers including investors, companies, and trusts. It will also apply to foreign purchasers; however, the significant foreign buyer surcharges will remain. 

 Clink on the following tab for more www.sro.vic.gov.au/temporary-plan-duty-concession

Depreciation benefits are only applicable for investors. A quantity surveyor will prepare a depreciation schedule, then potentially allowing significant depreciation benefits to be offset against your taxable income. For advice relative to your own personal circumstances we recommended speaking to your tax professional.

Whilst they can vary, typically under a guaranteed rent arrangement, the landlord assigns your property to a letting agent for a specified period of time, in return for providing you a guaranteed income.

A Guaranteed Rental Return (GRR) is a future rental income ,guaranteed by the developer or management company to the property purchaser for a contracted period (typically for one to two years)

Usually the agreed rental amount will be paid into the investor’s bank account immediately after the property settles.

Potentially you can receive rent from day one, even when there is no tenant. It also gets you past the initial competition  of other rental properties within the same building.

Speak to your Marshall White Projects salesperson as to what’s on offer.

Our dedicated property management team will provide you with a forecast rental appraisal for your off-the-plan property.

It’s worth remembering that these estimates are at today’s market value and may differ at settlement.

It’s worth checking in during construction with our rental team and learn firsthand what the rental market is doing in your area.

Your dedicated specialist team focus on off the plan leasing, ensuring you are dealing with the best suited agent for your brand new off the plan property. We specialize in the new apartment and townhouse market. Unlike most agencies who work on only established properties, we dedicate ourselves to what we know best. This gives our clients the peace of mind in knowing they are dealing with experts for their brand new investment.

In Victoria, the average number of properties managed by a single property manager is typically between 250-300. We manage less than 200 properties. This means your Off The Plan Property Management professional will be more accessible and available to listen and communicate with both you and your tenant on a regular basis. We genuinely believe in quality, not quantity.

Over the years we have built strong relationships with relocation agents who prefer to work with Marshall White Property Management when placing their executive clients into brand new properties. With the high level of service we provide and having built the trust with these relocation agents, we are typically their first point of call. Unlike many other agencies who have high staff turnover, we continue to grow our team and build on strong relationships with our clients and relocation agents. This minimises the vacancy for our clients and ensures placement of quality tenants.

With our Projects team having already worked hand and hand with the developer of your property leading up to settlement, we can then offer advantages not available to any other leasing company such as all current marketing collateral, early access for prospective tenants and a vast data base of tenants specifically for brand new, never been lived in apartments and townhouses. Get the jump on the competition by maximizing your return and minimizing your vacancy rate.

One person. One voice. One expectational service through continuity.
Call our office or our Business Development Manager, Tina Jin on
0439 390 937.