What are the staged payments when buying a off-plan ski property in Austria?
When considering the purchase of an off-plan ski property in Austria, buyers encounter structured payment plans that correspond to key milestones in the construction process. These staged payments are designed to ensure a synchronized financial progression that aligns with the development stages of the property. There are two fixed payment plans:
Rate plan A
- 15% at start of building works
- 35% on completion of the shell and roof
- 20% on completion of plumbing and electrical installations?
- 12% on completion of the facade & windows
- 12% on completion of the property
- 4% on hand over of keys
- 2% after three years?
Rate plan B
- 10% at start of building works
- 30% on completion of the shell and roof
- 20% on completion of plumbing and electrical installations ?
- 12% on completion of the facade & windows
- 17% on completion of the property
- 9% on hand over of keys
- 2% after three years?
In both Rate Plan A and Rate Plan B, the payments are channelled into an escrow account. This account ensures that funds are securely held until construction milestones are verified by a lawyer, after which they can be released to the seller. These staged payment plans offer buyers a structured and secure approach to purchasing off-plan properties, aligning financial commitments with the property's developmental progress.
