The term "buying off the plan" usually refers to
purchasing a property that is not yet registered as a separate lot
with the government department responsible for land title
registrations, or not yet built.
Buying off the plan can refer to the purchase of a block of
vacant land that is part of a subdivision, or a house or unit being
built for sale where the land on which it stands is not yet
registered as a separate title.
Selling property "off the plan" allows a land owner to
develop the land in a less-expensive way, as the developer can
negotiate lending rates with its Bank at a lower rate if some of
the land, houses or units are already sold to buyers.
This is an advantage to the land developer and can also be
attractive to a prospective purchaser who buys into an "off
the plan" property in the early stages of the development.
