Q. I purchased a property off plan about 12 months ago and am toying with the idea of selling prior to completion. Firstly how easy is this to do and secondly, would it be wiser to keep it until it completes and then sell?
A. Selling your off plan unit prior to completion will only be possible if the developer provided you with an assignable contract allowing you to do so. That being the case, once the developer has sold all the units in the development there is usually a demand for re-sales as there is no availability directly from the developer. Approach your local agents to act for you with regard to disposing of the unit, however bare in mind that the second hand market buyer is usually looking to physically view the property and usually finds it difficult to purchase a property from floor plans and specification only, that said as long as the price is right there will always be interest especially from investors. Once the property has completed there is definitely more demand as potential buyers are then able to view and depending on the market conditions you will likely realise a larger profit.