The process of buying off the plan
So you've been to all the display suites, reviewed the brochure and the plan book, and chosen your dream property. What next? The process is actually very simple. Here are the steps to follow:
1. Put down a holding deposit. This is a small amount of money that shows you’re interested and takes the property off the market so nobody else can buy it.
2. Once secured, your sales agent will sit down and take your details and your solicitor’s details so that they can prepare a sales contract.
3. Hire a solicitor. If you haven’t got one, the sales agent can recommend one.
4. Choose your colour scheme from the colour board. This forms part of the contract.
5. Go and see your solicitor with the contract. They’ll check if it’s all correct and go through the floorplan and development plan with you.
6. At exchange you will need to pay the full deposit, which is usually either 5% or 10% of the purchase price (minus your holding deposit). The balance will be due at settlement.
Your purchase is now secure and you are waiting for settlement.
Did this help?
Visit our complete guide to buying off plan video series
Thinking of buying
off the plan?
Sign up and get updates on the latest developments delivered straight to your inbox before they even go on the market.
Sign up for our VIP mailing list
Enter your details to receive monthly updates on brand new off-plan properties, hot tips on buying off-plan, and VIP access to property viewings and offers.