How to protect your rights if the purchased off plan property is unfinished?

Mondo Social Updated on 2024-01-31

If you're buying an off-plan property, you do need to take some action to protect your rights. Here are a few suggestions:

1.Negotiate with the bank to suspend interest on the accountIf you are unable to pay the balance or loan interest on time, it is a feasible way to negotiate with the bank to stop the interest on the account. By communicating with your bank, delaying your payments can give you more time to resolve the issue with your home, or wait for the developer to fix the problem before making the payment.

2.Don't check out right away:If you move out immediately, you may form a debt relationship with the developer and the progress of the check-out will be limited. In this case, it is advisable not to rush to check out, but to wait for the progress of the rights protection, and to gather sufficient evidence for future use.

3.Litigation with other owners:Joining forces with other affected property owners and filing a class action lawsuit is an effective way to enforce your rights. With a class action, you can collectively recover damages from the developer and increase the chances of a successful lawsuit. At the same time, through collective action, we can also better obtain public attention and coverage, and increase the voice and power of rights protection.

In addition, being cautious when buying a property and carefully checking the developer's documents and qualifications is an important step to protect yourself. In addition, it is also important to compare the strength and credibility of the developer, and choosing a well-known and reputable developer can reduce the risk of buying a home.

It should be noted that the situation of each unfinished house may be different, and the specific methods and effects of rights protection will also be different. When faced with the situation of buying an unfinished house, it is recommended to consult a professional real estate lawyer or relevant institutions for legal advice and guidance on rights protection for specific situations. Unfinished building

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