Buyer Guides
Buying Off-Plan Property
How reservations, private purchase contracts, stage payments and bank guarantees work when buying off-plan.
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How an off-plan purchase works
- Reservation – a deposit takes the unit off the market.
- Private purchase contract – typically signed within weeks, with a percentage payment.
- Stage payments – optional instalments during construction.
- Completion – the balance is paid at the notary when the building can be occupied.
Protecting stage payments
Spanish law (Ley 38/1999 de Ordenación de la Edificación, additional provision one) requires developers to guarantee buyers’ payments before completion with a bank guarantee or insurance policy. Ask for the individual guarantee for each payment.
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