What is an off-plan purchase?

In today’s real estate market, it is becoming increasingly common for properties to be sold before or during construction and only have to be paid for in full when the keys are handed over.
As the property is under construction, you often have a say in the interior fittings and the materials and appliances used.

What risks can arise?

Construction work always involves additional risks, whether due to unforeseen additional costs during construction or with regard to the creditworthiness of the construction companies:

• The buyer must cover any additional construction costs himself
• Pre-inspection is not possible: All you see are construction plans, graphics and possibly a model
• If the contractor becomes insolvent after the start of construction, your advance payment is lost in whole or in part.

To minimize the additional risks, at least the following three points should be checked:

• The building contractor has been actively involved in the construction of comparable properties for at least 3 to 4 years

• The contractor has no (relevant) outstanding debt collection proceedings

• The building contractor expressly undertakes in the purchase contract to cover any builder’s liens.

HYPOTEQ can also provide you with an attractive mortgage offer for houses or apartments under construction.
Thanks to access to the mortgage exchange, you receive attractive market conditions and also save yourself the time-consuming comparison work.
Our mortgage advisors will be happy to look at your individual situation so that you receive a customized offer.