Paying for a property before it is built includes a few steps that may lead to simple errors. Some of these mistakes affect timing, money, or future use. Being aware of these early helps avoid issues later in the process. These include:
Skipping developer’s previous work:
Not checking the developer’s previous work may lead to delays or unfinished units. Review past JVC Offplan projects to see if they were completed on time and as described. Public records, reviews, and project listings provide basic information about their history and practices.
Ignoring project registration status:
Off-plan projects must be registered with local authorities. This includes approval from the real estate regulator and land department. Skipping this check might result in buying a unit in a non-approved or paused project. Always confirm registration using official channels.
Overlooking payment schedule details:
A clear payment schedule outlines how and when payments are due. Some buyers assume payments are flexible and do not check deadlines or penalties. Review each stage, and confirm how it links to construction progress before signing any agreement.
Not reading the sales contract fully:
Rushing through the sales and purchase agreement (SPA) may result in missed clauses related to cancellation, changes, or delays. The contract should clearly state unit size, delivery timeline, and refund terms. Ensure these matches what was shared during early discussions.
Underestimating final handover costs:
Many buyers focus only on the purchase price and skip other costs due at handover. These may include registration charges, service fees, and final instalments. Having a full list of estimated expenses prevents last-minute surprises and helps in planning funds.
Not visiting the site or office:
Photos and brochures may not show the current status of the site. Visiting the location, show apartment, or sales office gives more clarity. It also allows for direct questions to staff and checking if construction has actually started.
Relying only on verbal promises:
Some buyers accept verbal confirmations on features, completion dates, or pricing. Unless these are written in the agreement, they may not be honoured. Always ask for written proof of any key points discussed during the booking or pre-sale stage.
Being clear on documents, timelines, and project status helps reduce uncertainty when buying off-plan. Avoiding these mistakes supports a more careful and balanced property investment process.
