Buying a new apartment from a developer differs fundamentally from a second-hand purchase: the contract is signed with a commercial company, for a property not yet built, with payments spread over a long period. Alongside the opportunity — special legal care is required.
Sale Law guarantees
The law obliges the developer to secure every payment above seven percent of the price — usually via bank guarantee or insurance policy. Verify that every payment is covered by a lawful security and paid only into the project’s escrow account.
Read the specification before, not after
The technical specification is part of the contract and defines exactly what you will receive: materials, dimensions, systems and fittings. Compare it to renderings and sales promises, and insist that every material promise is anchored in writing. Changes and upgrades — only in a signed document.
Delivery dates and compensation
The contract sets a delivery date, and the law grants compensation for delays beyond the statutory grace period. Watch clauses allowing postponement — narrow them, and make sure the compensation mechanism is clear and workable.
Reservations to the contract
The developer’s sale contract is drafted by its lawyers — in its favor. Your own counsel will submit reservations: correcting one-sided clauses, securing registration of rights on a defined timeline, and protections for delay or breach. The cost of counsel is negligible against the risk of signing blind.
This article is general information only and does not constitute legal advice. For any specific matter, please seek individual counsel.
