Buying an off-plan property is a major financial commitment.
Before making a booking payment, buyers should verify the project, developer, unit, payment plan and contractual documents.
Here is a simple checklist to use before signing.
1. Verify the Developer
Check:
- Developer’s legal identity
- Previous projects
- Completed developments
- Current projects
- Delivery history
Don’t rely only on advertising or social media.
2. Verify the Project
For Dubai, buyers can use Dubai Land Department services to check project-related information and project status.
DLD provides services for registered projects and off-plan development, including project registration and escrow-account information
3. Verify the Escrow Account
For Dubai off-plan projects, confirm the project’s official escrow details before transferring funds.
DLD states that amounts collected from purchasers of off-plan units are deposited into the relevant project escrow account
4. Verify Your Unit
Check that the documents correctly identify:
- Unit number
- Floor
- Size
- Property type
- Parking
- View
- Number of bedrooms
- Balcony or terrace
- Included specifications
Small differences between units can have a significant effect on value.
5. Read the Payment Schedule
Write down every payment.
For example:
Booking — AED 100,000
Construction payment — AED 150,000
Construction payment — AED 150,000
Handover — AED 600,000
Make sure you know exactly when each payment is due.
6. Read the SPA
The Sales and Purchase Agreement is one of the most important documents in an off-plan purchase.
Understand the terms relating to:
- Handover
- Payments
- Delays
- Cancellation
- Default
- Resale/assignment
- Unit specifications
- Developer obligations
If you do not understand a contractual clause, obtain appropriate professional advice before signing.
7. Check Construction Progress
If construction has already started, check the project’s actual progress.
Dubai Land Department provides project-status services, while Dubai REST can provide information such as project completion percentage
8. Check Additional Costs
Ask for a complete breakdown of costs.
This can include:
- Registration fees
- Service charges
- Administrative fees
- Mortgage costs
- Furnishing
- Property management
- Other applicable charges
10. Keep Your Documents
Keep copies of:
- Reservation form
- SPA
- Payment receipts
- Payment schedule
- Project documents
- Developer correspondence
- Unit specifications
- Any amendments or agreements
Having organised documentation can make the purchase process much easier
Final Thoughts
A good off-plan purchase starts with good due diligence.
Taking a little extra time to verify the project and documents before paying can help you understand exactly what you are buying and what you are committing to.
Considering an off-plan property in Dubai or Sharjah? Explore our current projects or contact us for project information, availability and payment plans.
