By law, developers are required to park 30% of construction costs in a regulated escrow account specifically for the project. If a developer prefers not to open an escrow account, they are only permitted to start off-plan sales once the physical pro…
By law, developers are required to park 30% of construction costs in a regulated escrow account specifically for the project. If a developer prefers not to open an escrow account, they are only permitted to start off-plan sales once the physical project construction has reached 30% completion.
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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