• Buying Off Plan Property Real Estate

    August 21, 2017

    Posted in: General

    If you want to buy a property, one of the best options is to go to buy property off plan, since it is a very useful and can make big profits, but before getting into this type of purchase, it is best to study well the situation posed by the future construction and the same business, to avoid inconvenience in future. The method of buying property off plan, as its name implies, is a given purchase although it has not started the construction work, which suggests that in many cases who carry out the work is in the process of obtaining legal permits suggesting the construction and likewise is looking to achieve to have a sufficient number of buyers of the project and so to ensure the provision of sufficient resources to enable it to make way for the materialization of the project. These conditions make the person enters into a trusteeship, in which price is established, the conditions under which the work would begin and later the signing of a promise of sale. It can be said that is a previous step to the realization of the actual purchase and participation will be the guarantee trustee concerned to give the money as seed money for the work is returned in the event of failure to achieve the realization of the project on the agreed conditions by the parties. At this point it is important to note that the trusteeship does not mean the configuration of the promise of sale is a contract which provides for further investment property purchase. This contract is signed with the Contractor and with a trustee, which will administer the funds for both the resources required for construction or disbursements. The whole process of buying property off plan, supposed to make an investment and who have to expect a certain number of investors and therefore a certain capital, this for the manufacturer to ensure the construction of the work, ie that achieves a balance, which is determined in the trust agreement. At the moment this is achieved break-even will step to the configuration of the promise of sale by the builder with all the investors and thus the trustee shall provide the operator the necessary resources for building construction and realization of the work is in drawings, in other words will execute the project. But you may not attain the equilibrium point, since the constructor can not sell individual housing projects, which will result in the trustee to return the money that these investors had made for the purchase of property on plans, just as it has been established in the contract of trust and therefore from the trust must pay close attention to all the conditions specified therein.

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