Off Plan Property Purchasers

1. Delays and Uncertainties: One of the primary concerns with buying off-plan properties is the potential for construction delays. Various factors, such as planning permission issues, shortages of labor or materials, or unexpected complications, can lead to delays, causing uncertainty and inconvenience for buyers.

2. Financial Commitment: When buying off-plan, you typically need to pay a deposit, often ranging from 10% to 30% of the property's total cost. This requires a significant financial commitment upfront, with your money tied up until the property is finished. Moreover, if property values decrease during the construction period, you may find yourself facing a potential loss.

3. Inability to Inspect: Since off-plan properties are not yet built, you cannot physically inspect the property. Instead, you must rely on floor plans, computer-generated images, and show homes to visualize your future residence. This can lead to disappointment if the completed property doesn't meet your expectations.

4. Market Fluctuations: Market fluctuations are always a concern. If the real estate market experiences a downturn, the value of off-plan properties may decrease, impacting your potential return.
The primary issue we often encounter is construction work coming to a halt, leaving buyers with their deposits paid but no completed property in sight.
Let Us Assist You in Recovering Your Deposit

If the property development company is still in operation, we can carefully review your contract and guide you toward our Debt Assignment service.

In cases where the company has gone into administration, we can represent your interests during the administration proceedings. Additionally, we can undertake a comprehensive review and investigation on your behalf.

Count on us to be your partner in navigating the complexities of off-plan property purchases and initiate a Third Party Action to recover your deposit.