Deposits and Expressions of Interest in Baulkham Hills

The NSW Government says the deposit and any instalments paid under an off the plan contract must be held by the stakeholder in a trust or controlled money account during the contract period and cannot be released to the vendor before settlement. It also says an expression of interest payment will not secure the property.

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What deposit in Baulkham Hills actually involves

the NSW Government's page Buying property off the plan names the stakeholder as the real estate agent, solicitor or developer. It says an expression of interest payment signals your 'interest' only, and that there is no binding contract until signed contracts have been formally 'exchanged', even if the developer has accepted an offer.

What the page says about conduct

The NSW Government says agents and developers must not mislead or deceive any parties during a negotiation or transaction. We state only the lines above.

A closed steel lockbox with a brass padlock on a bare bench — deposits and expressions of interest, Baulkham Hills. Illustrative example.

What the pages do not say

No NSW Government page we read sets a deposit amount for an off the plan contract, so this site states none. the Office of the Registrar General's item of 11 October 2019 says that from 1 December 2019 deposit and instalment money must be retained by the stakeholder in a trust or controlled money account, and that the requirement will ensure it is protected in the event of the developer's insolvency.

These rules are State-wide, so nothing in them is particular to Baulkham Hills. This site is not the stakeholder of any deposit, takes no payment and holds no money. The disclosure page covers what the contract must attach.

Two empty chairs at a plain bare table in a bright empty room — deposits and expressions of interest, Baulkham Hills. Illustrative example.

Off the plan rules check for NSW