VIC Possible to Rescind an "Off the Plan" Contract?

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14 May 2018
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We purchased a property January this year. Property was already built and only thing outstanding was the registration of the title. Real estate agent sent us a off-the-plan contract. When we asked for a normal contract, they told us, since we want a 30-day settlement, it won't be possible to issue a new contract and get the registration of the title within that time-frame. Real estate agent told us there are no issues settling in 30 days.

Settlement day came and pass. When I asked my conveyancer, they told us that according to the contract the Vendor has up to 36 months after the sale to register the title.

We also found out out next door neighbor bought the other unit in June last year and was supposed to settle in December. Since they already sold their house, they had no option but to move into the property and pay rent to the owner. The same agent sold them the property.

Recently, we have found out council rejected the plan of subdivision October last year as the property wasn't build as per the plan.

At this stage we are waiting, it has been 4 months and no communication from the vendor or vendor's solicitor. Real estate agent knew that we won't be able to settle on the date we nominated, the new plans were also rejected in October and the next door neighbor was still waiting for the registration of the title when we signed the contract.

Do we have any legal grounds to rescind the contract due to misleading information from the real estate agent? Especially Australian Consumer Law where if we have this information we would have not sign the contract in the first place?

Thank you
 

Rod

Lawyer
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You may have grounds to void the contract, and that is because of the builder/owner failing to build property as per the plans. Suggest you see a lawyer and take a copy of the contract and evidence of why the council is refusing to agree to new plan. Is it something minor, or something major like a new floor added to a building.