Project Buyer FAQs

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

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

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

Once the building permits have been sourced from the various authorities, construction will 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 request changes.

Often this process can extend from weeks to months, as the project manager liaises with the builder to provide you with the quote for your requested upgrades. Then, prior to a 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 sent to you typically on a three-monthly basis. (some may be more frequently).

Alternatively, our Marshall White Projects construction portal www.marshallwhite.com.au/construction-updates/ is online to be viewed any time.

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

As construction continues, a settlement company will be appointed to then assist you with your journey through to settlement. As they come on board, they will 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) for any last-minute defects, that require the builders attention prior to you collecting the keys.

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 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:

• Lara Adler (Head of Marshall White Projects Purchaser Variations and Construction Updates); Contact lara.adler@marshallwhite.com.au
• Marnie Taylor (Head of Marshall White Projects Operations); Contact marnie.taylor@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

Again, we take this opportunity to thank you for purchasing a 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 Victorian Budget 2023-24 includes a number of announcements related to legislation administered by the State Revenue Office.

The measures are listed here, along with their expected start date.

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 ultimately moving 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

It’s always prudent to talk to one of our local residential experts with regards to a market appraisal or simply discuss current market conditions.

Often for a particular project the vendor is a developer rather than the builder, so a builder will 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 and then do your homework by looking at their experience either online or by driving past completed projects.

Since 1 July 2018, eligible older Australians 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 Victorian Budget 2023-24 includes a number of announcements related to legislation administered by the State Revenue Office.

The measures are listed here, along with their expected start date.

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

For Contracts entered into for buying or building a new home valued up to $750,000 on and from 1 July 2017 until 30 June 2020, you may be eligible for a First Home Owner Grant (FHOG).

(With an off-the-plan property, the total Contract price must not exceed $750,000 to be eligible).

If you are eligible for the FHOG and the home you are buying is in regional Victoria, you may receive $20,000. If the home is not in regional Victoria, the grant is $10,000.

Your new home can be a house, townhouse, apartment, unit or similar, but it must be valued at $750,000 or less and be the first sale of the property as residential premises. It cannot be an investment property or a holiday house.

However, for the stamp duty exemption/concession this is determined by the dutiable value for an off-the-plan property (the dutiable value is the contract price minus the construction or refurbishment costs incurred on or after the contract date). The dutiable value must be below $600,000 for the exemption, and a first home buyer duty concession is also available for a principle place of residence with a dutiable value from $600,001 to $750,000.

Depreciation benefits are only applicable for investors. A quantity surveyor will prepare a depreciation schedule, then potentially allowing significant depreciation benefits to be then 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 competition  of other rental properties within the same building.

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

Your Marshall White Projects salesperson 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 vary at settlement.

It’s worth checking in during construction with our rental department 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 to your brand new off the plan property. We specialize in the 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.

Essential for every investor at tax time. We offer our property management clients a free depreciation schedule for their brand new off the plan investment. This saves you both time and money.

In Victoria, the average number of properties managed by a single property manager is between 250-300. We manage less than 100 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. 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 renters.

With our Projects team having worked hand and hand with the developer of your property leading up to settlement, we can then offer concessions 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 us today.