Buyer Managed an Off-the-Plan Valuation Shortfall Before Settlement
The client’s situation
A buyer signed an off-the-plan contract years before completion. When the apartment was ready, the lender’s valuation was below the contract price, reducing the amount the bank would lend.
How Aquarius Lawyers helped
We reviewed whether the contract gave any finance or termination right at that stage, then focused on settlement risk, extension options and the consequences of default. The client worked with finance advisers to source the shortfall while we negotiated timing with the developer.
The result
The buyer avoided assuming that a low valuation automatically cancelled the contract and managed the funding issue before the settlement deadline.
What this story shows
Off-the-plan buyers carry valuation and lending risk between exchange and completion. Finance approval at signing may not protect against a later valuation shortfall.
This is an approved, anonymised success story about a matter handled by Aquarius Lawyers. It is general information, not legal advice. The facts, contract and law applying to another transaction may produce a different outcome.