Buyer Awareness Does it protect him from risks when buying an off-plan property?

Real Estate Authority tips to check the license, standard contract and payment schedule before buying an off-plan property to ensure your rights

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With the growing popularity of off-plan real estate purchases, awareness of regulatory procedures and contractual rights has become essential to protect investments and ensure a secure home-buying journey. It is crucial to follow specific steps before signing the contract to avoid risks and safeguard the rights of all parties.
The General Real Estate Authority emphasized the need to verify several essential steps before signing an off-plan sales contract, stressing that the buyer’s awareness of their rights prior to signing represents the first line of defense in protecting their investment.
The Authority emphasized the importance of verifying the project’s license by ensuring that the project is officially licensed—and not relying solely on the trade name—but rather searching for the license number via the Authority’s platform. It also warned that marketing without a license constitutes a violation that must be reported.

Regarding the contract, the Authority stressed the need to read the “standard contract” carefully and to sign only the model contract approved by the Authority. You must also ensure that there is a precise and specific delivery date, in addition to reviewing the payment schedule and verifying that it aligns with the project’s actual completion progress.
The Authority clarified that the contract is the primary reference, not the “brochure,” as marketing images and display units are only approximate models, whereas the plans and specifications attached to the contract represent the sole legal and binding reference for the developer.

The Authority concluded by emphasizing that adhering to these steps ensures a safer and more transparent home-buying experience for the buyer and strengthens the protection of their rights throughout the real estate investment journey.