How to Not Get Screwed By a Developer | Ep. 176

In this episode, we discuss a couple of recent stories that have developed in the media where young first home buyers were on the wrong end of a sunset clause. 

A sunset clause is typically used in a sale and purchase agreement to protect the buyer of a property that has not been built yet. Using this clause, if a developer has not completed the build by a certain date, then the purchaser has the right to cancel the contract. 

However, in the stories that have developed in the media, the developer has used the sunset clause to legally cancel the contract and resell the property at a higher price. If the market has increased in value throughout the duration of the build, the developer can then make significant gains, and the purchaser is left having to purchase at a higher price. 

That's why in this episode, we discuss how to protect yourself by using a robust sunset clause that only the purchaser can invoke, not the developer. 

We also discuss the Property Investor Quiz, this 7-question quiz will give you a 'yes', 'no', or 'maybe' answer about whether you are in the position to invest in property or not.