A sunset clause protects both the seller and the buyer. The sunset clause in an ‘off the plan’ contract will usually provide that if the development is not complete and a separate title for the lot is not issued by a certain date (the sunset date), either party may terminate the contract. This provides certainty to both parties of the period of time which the parties are obligated to
be bound by the contract. Usually, the developer will insert a sunset date to be certain period after the expected development completion date, such as 6 months after the expected development completion date (to allow the developer additional time to complete construction should there be any unavoidable delays such as bad weather, industrial disputes etc). Keep in mind
that it is in the developers best interests to finish construction on time.
You will always be advised of any changes.