Plot And Plan Agreement

One area that should be particularly conscious is the common requirement that you build on your new land within a specified time frame. In fact, as a buyer, you should check for such a requirement – otherwise, you could be exposed to years of construction activity in the colony with all the noise, dust, inconvenience and safety issues. Pay attention to a clause in the sales agreement that requires you to use a mortgage that has an agreement with the developer. In this way, you can attach yourself to a contract that allows the developer (or his mortgage) to apply for and negotiate a home loan on your behalf with any bank of his choice. Banks are generally happy to finance a turnkey home as they finance a used home – buyers benefit from a higher credit value interest rate, even if banks have warmed up to plot and plan bonds. Both products have their advantages – make sure you understand exactly what you are buying. To find the latest off-the-plan shopping opportunities, visit the private property site for all current real estate offers. The purchase plan is attractive if you want to own a new property and be the first to live there. Most developments include all associated costs, so the price you see is the price you pay, which is ideal since there are no surprises. All your legal fees can also be included in the package. Before buying an „off-plan“ home or buying a „plot-and-plan“ home, there are significant risks to consider. There may be several risks, and you can protect yourself: a few years ago, banks took a conservative approach to planning and planning requests, mainly because of the risk of delivery, and in many cases they offered only up to 80% of the total cost of construction and land.

If construction work is not completed within the agreed time frame or if it turns out that it is below industrial standards in terms of plans, specifications, processing and materials, you must take action within three months of occupancy of the property. Roof leaks that occur within 12 months of occupancy can be invoked. In a case where serious construction defects are found, you have the legal right to claim within five years of your activity. But what if, as in this case, the transmission still took place? What is not known to all (and perhaps a little odd at first glance) is that if the buyer pays in full and the parties intend to return the property at the time, the transfer is valid.