What are my options for selling an off-the-plan property before it is completed?

Selling an off-the-plan property before it is completed can be a viable option for many property owners. Whether you need to change your plans, seek financial gain, or simply want to explore other opportunities, there are several options available to you. 


Here are some of the common avenues for selling an off-the-plan property before its completion - 


  1. Assignment of Contract - One option is to assign your contract to another buyer. This involves transferring your rights and obligations as the original purchaser to a new buyer. You may need to obtain the developer's consent and comply with any conditions specified in the contract.


  1. Reselling in the Open Market - Another option is to sell the property on the open market. This involves listing the property for sale with a real estate agent or through online platforms. Keep in mind that selling an off-the-plan property before completion can be more challenging as potential buyers may have to rely on plans, specifications, and the developer's reputation.


  1. Negotiating with the Developer - Depending on your circumstances, you may be able to negotiate with the developer to cancel or amend the contract. This could involve seeking a release from the contract or negotiating a different arrangement that suits both parties.


  1. Engaging a Property Exchange Platform - There are specialized property exchange platforms that connect buyers and sellers of off-the-plan properties. These platforms provide a marketplace for buyers and sellers to connect and facilitate the transfer of contracts.


Before considering any of these options, it's crucial to review your contract and seek legal advice to understand your rights and obligations. There may be specific conditions, fees, or penalties associated with selling an off-the-plan property before completion.


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