GLOSSARY
LONGSTOP DATE
A Longstop Date is an absolute final deadline (written into a property contract and most commonly utilised in off-plan or new-build property purchases) by which construction must be finished and completion must occur.
As building projects frequently face delays, the longstop date acts as a safety net for the buyer. If the developer fails to complete the property by this ultimate deadline, the contract typically gives the buyer the legal right to walk away and receive a full, unpenalised refund of their deposit.
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