Properties can be advertised for sale before the building has been constructed. Buying this type of property is known as ‘buying off the plan’.
When you buy property “off the plan”, you pay for a property where the end product may not only differ from your expectations, but be worth less than you have paid by the time it is finished.
If you are thinking of entering into a contract to buy an off the plan unit or apartment which has not yet been built, exercise caution and obtain appropriate legal and other advice before signing any documents or paying any money!
