selling a property on a new build

[gooders]

Hi Everyone,

Can anybody tell me is better to sell a property before completion, are there any penaltys, or is it better to sell after completion, I would like some adviced,

regards

Gooders

[Doc]

Check your contract first. Most developers won't allow you to sell before you have taken ownership of the completed property. I think one of the few that does is Polaris.

As to which is best, it largely depends on who your buyer is (and how you market the property). Most agents will 'guide' new buyers towards new off-plan properties (i.e. deal with the builders direct) as they make more commission that way.

Chris.

[dal5band]

You don't own it to sell until you have fully paid the builder and have the deeds. Anything before that depends on your builder - he may accept your buyer as replacing your obligations but you will still be liable if the new buyer backs out at the last minute.
Otherwise, you could line up a buyer for when you take possesion. If you employ a clever lawyer, he may be able to register the property directly to the new owner.