Off-plan real estate: 5 things to note before buying

There are uncertainties in the business world. Uncertainties from things within and outside the developer’s control. For instance, the time required to process approvals can be extended. A developer may not have control over that. Now in a case where there is a building or unit malfunction, a developer can fix that.

Since the off-plan property option is a case of what is ordered versus what is delivered, you should ask for some comfort or guarantees.

Your relationship with an off-plan property developer goes on for a few months. Sometimes it extends into years. You want to enjoy this journey as much as possible. A way to guarantee a mutually beneficial and seamless relationship is to ask about a developer’s process. You can ask about the building process, communication process, conflict resolution process, etc.

An open developer’s process flow aids compliance, improvement, helps to measure delivery and satisfaction.

Source: NairaMetrics

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