I am requesting a favor.

Would someone kindly explain to me what you all mean when you are talking about a property being "off plan"?

And if there is an "off plan" is there an "on plan"? And what does that mean?

I'll be happy to try to answer any questions about real estate in the USA. I'm not an agent and I don't have anything for sale, but I do have real estate investments.

I am enjoying this forum.

Quite simple
you buy a property based on the building and site layout plans with a detailed specification and perhaps a model and artist illustrations
You make the purchase before the building starts but you should make sure that the development has all the required permits and that you get a bank guarantee for the deposit you have to put down
The deposit is paid when you sign the contract and can be as little as 10% but for the really good developments 30 % is quite normal The balance is paid when the property is built and you receive all the title deeds
Build time can vary but more often circa 2 years and the price is fixed at the time you buy
Over the last few years with growing EU prices when it comes to complete, if you have chosen well , you will have a capital profit
Even in the current slow market buying this way in the best located developments you can still anticipate a profit
The earlier you buy in the development process the lower price you pay
Can go wrong of course but provided your deposit money is guaranteed by a good bank it should not be at risk
Unfortunately at times novice buyers take risk and buy without such a guarantee or proper research and get into problems
A lot of people think the Spanish market is going down but there are still good developments for all types of buyers where the prices are firm and in the medium term have good growth potential This applies to other mature EU markets but I suspect that the ' so called EU emerging markets' may be facing a difficult 2008!

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Brian Rowlands BSc FRICS
Chartered Surveyor & Overseas Property Agent
www.bbspanishproperties.co.uk

I am an American also but I believe we would call this "Pre Construction" where you buy off of a plan instead of viewing the property but I asked the same question in another post.

I think we have to teach these Euros the right vocabulary AGAIN, but it is nice to teach the British English!

Well, that is simple and perfectly clear. You buy by looking at the plans and not at the finished buildigs. It is quite logical, but I couldn't figure it out.

Thank you for the help

Just to help our American friends.
You'll find the correct pronunciation is "awf plan"

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Michele Andrew
Editor of Square Foot Magazine

HAH! Thats EXACTLY how I said it!

Yes, but the British pronunciation depends upon not actually opening the lips.
By the way, which language does your Mr Bush speak? It's nothing we recognise?
Kindest regards to the Colonies.

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Michele Andrew
Editor of Square Foot Magazine

I will have to practice. What part of the North exactly are you from? LOL

It is nothing we recognize either!

When exactly was it when you Colonized the Dominican Republic? I thought it was the poor cousin?

Offplan/Onplan the same thing.

I dont know why, it is quite confusing to the lay person.

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