If you choose to buy a “key-ready” property, you in general pay in cash. Sometimes a “key-ready” property can be given with a payment plan but it’s pretty rare and usually only exist in new developments that are near to be complete.
If you choose to buy in a new development that are under construction or are planned to be build you can be given several kind of choices of payment plans. Pay in cash with an attractive discount or pay over several years with a installment plan or/and a payment plan with or without interest.
How the payment and the installment plans looks like, can be different from developer to developer and from project to project. Below we give you an example.
The property price is: 60.000 € (notice; the percentage and payments plans below just are examples and will be different in the property you are looking for)
10% reservation – 10% of the total price for reservation (6.000 €)
20% down payment – 20% of the total price when signing the contract (12.000 €)
10% on delivery – 10% of the total price for handover and ready to move in (6.000 €)
60% Payment plan (or installment plan) over 3 years as an example – The rest 60%, in this case it will be 46.000 € with a payment plan over 36 months
Cash: 20% discount of the total price (a discount with 12.000€ of the total price) You pay 48.000 € for the property as an example from above.
Whats the difference between payment plan and installment plan you might ask? A installment plan is always offered interest free. A payment plan can sometimes be with a low monthly interest fee. That’s the only difference and installment plans are only offered while you are waiting to have the property to be hand over.
And why can i buy with no credit control? The simple answer is that it depends on that the developer take the risk.
We went down the lane, by the body of the man in black, sodden now from the overnight hail, and broke into the woods at the foot of the hill. We pushed through these towards the railway without meeting a soul. The woods across the line were but the scarred and blackened ruins of woods; for the most part the trees had fallen, but a certain proportion still stood, dismal grey stems, with dark brown foliage instead of green.
On our side the fire had done no more than scorch the nearer trees; it had failed to secure its footing. In one place the woodmen had been at work on Saturday; trees, felled and freshly trimmed, lay in a clearing, with heaps of sawdust by the sawing-machine and its engine. Hard by was a temporary hut, deserted. There was not a breath of wind this morning, and everything was strangely still. Even the birds were hushed, and as we hurried along I and the artilleryman talked in whispers and looked now and again over our shoulders. Once or twice we stopped to listen.
After a time we drew near the road, and as we did so we heard the clatter of hoofs and saw through the tree stems three cavalry soldiers riding slowly towards Woking. We hailed them, and they halted while we hurried towards them. It was a lieutenant and a couple of privates of the 8th Hussars, with a stand like a theodolite, which the artilleryman told me was a heliograph.
We went down the lane, by the body of the man in black, sodden now from the overnight hail, and broke into the woods at the foot of the hill. We pushed through these towards the railway without meeting a soul. The woods across the line were but the scarred and blackened ruins of woods; for the most part the trees had fallen, but a certain proportion still stood, dismal grey stems, with dark brown foliage instead of green.
On our side the fire had done no more than scorch the nearer trees; it had failed to secure its footing. In one place the woodmen had been at work on Saturday; trees, felled and freshly trimmed, lay in a clearing, with heaps of sawdust by the sawing-machine and its engine. Hard by was a temporary hut, deserted. There was not a breath of wind this morning, and everything was strangely still. Even the birds were hushed, and as we hurried along I and the artilleryman talked in whispers and looked now and again over our shoulders. Once or twice we stopped to listen.
After a time we drew near the road, and as we did so we heard the clatter of hoofs and saw through the tree stems three cavalry soldiers riding slowly towards Woking. We hailed them, and they halted while we hurried towards them. It was a lieutenant and a couple of privates of the 8th Hussars, with a stand like a theodolite, which the artilleryman told me was a heliograph.
2 comments
Alexander Rees
We went down the lane, by the body of the man in black, sodden now from the overnight hail, and broke into the woods at the foot of the hill.
Alexander Rees
We went down the lane, by the body of the man in blac, sodden now from the overnight hail, and broke into the woods at the foot of the hill.