What is off-plan property?

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An off-plan property term means a property that is sold prior to construction or at early stages of construction. These properties are offered by a discount or a payment plan that are usually accompanied with a deposit requirement. The property is before a structure has been constructed upon it. Pre-constructions are usually marketed to real estate developers and to early adopters as developments to allow the purchaser an easier, much better finance terms from their lenders.

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