Originally Posted by schumi_sk

Hi All,
I needed some assistance to understand the rules/terms and conditions regarding selling a "off-plan" property.
Say I invested in a property of $100,000 directly from developer. I have paid 3 installments a total $30,000 and still owe the developer $70,000 (to be paid as per the installment plan). The property is now worth $150,000.
Questions:
1. Do I need any permission from the developer to sell the property to any other buyer?
2. What is my profit if I sell the property today for $150,000 (property is not complete, i still owe $70,000)
- does the new buyer give me $80,000 and pays the developer $70,000 (as per remaining installments)
OR
- does the new buyer give me $45,000 (appreciation on my capital invested of $ 30,000) and have a new installment payment for $105,000 payable to the developer?

I am little unsure about the rules as I have never invested in a off-plan proerty before. Appreciate your advice.

Thanks.