Hi there. I’m due to fly out tomorrow to sign the first stage contract on an off plan apartment (in pure South)
I’m meeting my solicitor, the notary, bank and then the architect and developer
What are the top questions/tips I should ask each of them please?
Thank you.
Hello,
Your lawyer should be guiding you thoroughly through the whole process. Ensuring all off plan milestones are clear and will be met and that any delays by the builders or deposits are secure and/or refundable, in the event of none completion.
Posted: Thu Oct 10, 2019 7:21pm
Hi SJP
Most developments on the Costa del Sol proceed to completion, within about 2 years, with few hiccups and, currently, supply and demand is reasonably stable.
Sometimes, the Developer gets wound up and, in those circumstances, you are at risk of losing your deposit and there is no apartment to be delivered to you.
You should ask about that eventuality and what steps, if any, such as holding the depodit in an escrow account, are being taken to protect your deposit.
Best regards
Philip
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