Re: Price Adjustment Clause in Pre-Sale Contract
For all those involved in helping clients purchase new strata units, we have recently seen a price adjustment clause in the pre-sale contract. Without getting into all of the details, if the Building Constructing Pricing Index rises by more than 4%, the Developer has the right to raise the price by the amount over 4%.
Just one more item to warn potential buyers when they are considering a purchase of a strata unit yet to be built.
Thanks to Dustan Woodhouse for passing this along!
Spagnuolo & Company LLP