Earlier we wrote about the advantages and disadvantages of buying real estate in the primary and secondary markets. Now we will understand the pitfalls of buying real estate at the construction stage.
The biggest risk when acquiring off-plan projects is associated with unfinished or undeveloped properties. It is important to be careful when buying a property that does not yet exist. At a minimum, you must:
- Make sure that the developer company legally exists and that the project is registered in the land registry.
- Verify that a building permit has been granted by contacting your local city hall.
- Sign a contract in which you understand every line! And do not fall for the beliefs of sales managers who slip you a contract to sign with the words "this is our template contract that we sign with all clients, it has standard conditions." There can be no question of any "standard conditions". Everything is strictly individual!
