Buying off-plan usually means a better price and a more flexible payment schedule than a finished flat. In exchange you are buying an uncertainty: the promise of something that does not exist yet. The contract is the only place you can manage that uncertainty.
Is there a building permit?
This is the first question. On a site started without a permit, both the delivery date and the occupancy permit are guesses. See the permit date, and check that the number of units on the permit matches the number of flats being sold.
The developer’s record
Look at what the same company has delivered before: was the delivery date met, how long did the occupancy permit take, were the shared facilities built as promised in the brochure? Walking round a finished project tells you far more than any rendering.
Delivery date and penalty for delay
The contract must give the delivery date as a specific day. Wording such as “during 2027” protects nobody.
It must also say what happens if the date is missed: is rent compensation paid, is the price reduced, and after how long can you walk away from the contract?
Payment schedule and security
Tying payments to construction progress is far safer than paying up front. Ask what you receive in return for the money you pay: is a construction servitude deed transferred to you, is a bank guarantee issued?
The occupancy permit
You may be able to live in a building without an occupancy permit, but utility accounts, mortgages and resale all become harder. The contract must state who obtains it and by when.
From servitude to full ownership
The deed you receive during construction is a construction servitude deed; it becomes a full condominium deed once the building is finished and the occupancy permit is issued. Look for who is responsible for that conversion, and by when.
Shared facilities and service charge
Pools, security, landscaping and parking are easy to promise in a brochure. Confirm them against the approved project drawings.
Ask how the service charge is shared before the complex fills up; early residents sometimes carry the share of the empty flats.
This post is general information; it does not replace legal or financial advice. Talk to our advisers about the specifics of your own purchase.
