Yes, a developer has the option to start off-plan sales without an escrow account only after the project has reached 30% of its actual construction completion. Otherwise, they must park 30% of construction costs in a regulated escrow account by law.
Yes, a developer has the option to start off-plan sales without an escrow account only after the project has reached 30% of its actual construction completion. Otherwise, they must park 30% of construction costs in a regulated escrow account by law.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
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