Buying off-plan attracts many people because prices at the start of a project are often lower and payments can be spread over the build. But it also means you are buying something not yet finished, so checking is the most important step.
1. Verify the project licence
Ask for the project licence number and confirm it with the official bodies that regulate off-plan sales. Do not rely on the marketing brochure alone.
2. Ask about the escrow account
Buyers' payments should go into a dedicated account that funds the project, not into the developer's general account. Ask this directly and get proof in writing.
3. Check the developer's track record
Visit the developer's earlier projects and talk to owners there. Were they delivered on time? How was the quality and the after-handover service?
4. Read the contract and the payment schedule
Review the expected handover date, penalties for delay, the written finishing specifications, and whether each payment is tied to a real construction milestone. What is not written in the contract cannot be claimed later.
5. Understand the area and specifications
Compare net and gross area, and ask about shared spaces, parking and facilities. Ask for a show unit or a detailed floor plan.
Quick checklist before you pay
- The project licence number is verified and matches.
- Payments go to a dedicated escrow account.
- The contract states the handover date and penalties.
- Specifications are written, not verbal promises.
- The developer has delivered projects you can visit.
Note: this article is general information, not legal advice. Have a specialist review the contract before you sign.
