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Buying A Property Off-plan- How Does It Work? - Properties - Nairaland

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Buying A Property Off-plan- How Does It Work? by zayzee(f): 2:43pm On Jun 27, 2012
Please
Can someone who really understand how to buy a property off plan please explain it to me. What are the advantages and the disadvantages? What are the payment plans like also?

Thank you very much
Re: Buying A Property Off-plan- How Does It Work? by Aventures(m): 5:41pm On Jun 27, 2012
I know not much abt what u re asking but let me yarn some nonsense may be it can make some sense. Buy off plan simply means buying into a dream or a vision of an estate developer it could be a house or a servicecable plot in an estate. Hw does this work? An estate developer will acquire a large expanse of land go thru all omoonile whahala(pay them off outrightly and tie their hand well in black and white, so that no coming back to ask for fdn, decking or roofing money). The developer do the survey, ractification (if need be) and get a global CofO for the entire land mass and also engage a registered Townplannig consultant to prepare the approvable estate layout (not every layout are approvable)in other to get town planning approval. When the first huddle previously mentioned is sorted out then the services of Sound architect,QS, Engineers with estate planningg and managemnet knowlege to designs house, roads, drains, recreation centre, service area and other luxury amenities as you will want (this design stage is important because the name of the estate and the design must correlate for instance a typical example of a Garden Estate is VGC while there are so may estate this days XYZ garden estate and is far from what a garden estate shld be).When the design stage is completed, then the next stage is costing. At this stage the developer engages a cost consultant to put up a cost for facillity development such as road,fence, drains,electrification, water supply, seweage system, beautification, gate house, security post etc. Now what does the developer does wt the cost?. He adds the cost of land and documentation + facility development + profit/nos of plots available for sale= selling price. How does he sells he prepares a rendered, colourful, and attractive 3-D view of the proposed estate, produce flyers showing this estate looking as if already available, raaaddio gingles , use of marketing officers to get people to buy. Buyers beware for more info contact abidoyventures@gmail.com

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