What are the staged payments when buying a property in Austria off-plan?
When buying an off-plan property in Austria payments are made according to the build stages. Payments are made into the escrow account and can only be released to the seller by the lawyer when the construction milestones have been reached. 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?
Or
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?
