Buying a property off-plan means purchasing it before construction is complete, based solely on the plans, designs and rendersA render is a digitally created image or video that shows a 3D representation of a property. It allows people to visualise the space without needing to be physically present. In real estate, it is mai... More provided by the developerA promotora or developer is a company or individual that builds residential or commercial buildings with the aim of selling or renting them out. The developer manages the entire process—from purchasin... More.
Usually, both parties (the developerA promotora or developer is a company or individual that builds residential or commercial buildings with the aim of selling or renting them out. The developer manages the entire process—from purchasin... More and the buyer) enter into a pre-sale agreement, and the buyer pays a deposit (arrasThe contrato de arras is a preliminary agreement between the buyer and seller of a property, confirming both parties’ commitment to completing the sale. It typically includes a deposit of between 5% a... More) to formalise the deal. Buying off-plan is often more affordable than purchasing a completed property, and it also offers the benefit of being able to choose certain finishes or specifications in some cases.
However, there are potential risks involved, such as delays or changes to the final project. Therefore, it’s essential to choose a reputable developerA promotora or developer is a company or individual that builds residential or commercial buildings with the aim of selling or renting them out. The developer manages the entire process—from purchasin... More if you’re considering this option.
