30 August 16
Ever seen a great-looking image of a property with an even better-looking price? Chances are you have been looking at an off-the-plan property!
Buying ‘off-the-plan’ basically means entering into a legally binding contract to purchase a property before it reaches the stage of final development and occupancy approval. So in other words, you are buying a promise – a promise that the seller will complete the development of a property in accordance with agreed terms.
This ‘promise’ may sound daunting, but in the long run there are many good reasons to buy a property based on figures, artist’s impressions and display suites (and increasingly virtual reality walk throughs).
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