What are the potential risks in purchasing an off-plan property?

The potential risks when purchasing an off plan property are:
 

Delayed Completion Time – There are usually delayed handovers of off plan properties and there are have been cases of projects being completed after scheduled completion dates. In this case, it's highly advisable and important to do research on the project developer and look into their track record, Make certain any signed sale agreement ensures you are compensated for any unexpected or unscheduled delays.
 

Change in Market Conditions – The real estate market fluctuates all the time. If there's a downward move in property prices, the property can be worth less than what the buyer has actually paid. It can affect off plan properties more as it may be harder to liquidate than ready-to-move-in properties.

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