EP. 1500 - DEVELOPERS GETTING THEIR HANDS ON YOUR DEPOSIT WHEN BUYING OFF THE PLAN? TRUE OR FALSE?

💰 Buying off the plan? Ever wondered if the developer gets to touch your hard-earned deposit?The truth: No. Your 10% sits safely in a trust account (agent’s or solicitor’s) until settlement. ✅Here’s what else you need to know:✔️ If the project never gets delivered → you get your deposit back.✔️ Deposit counts toward your final purchase price.✔️ In some cases, the interest earned is shared.✔️ On the Northern Beaches, off-the-plan buyers have never lost money when holding long-term.👉 Don’t let myths hold you back. Off-the-plan can be a smart move in low-supply areas.#PropertyTips #NorthernBeachesLiving #RealEstateAdvice #OffThePlan #FirstHomeBuyer