Reading an Off-Plan Contract in Cyprus Before You Sign
The clauses that matter — delivery date, specification schedule, payment stages, penalties and deposit at the Land Registry.
Five clauses to read twice
The delivery date and what happens if it slips. The specification schedule, item by item, including brands and tolerances. The payment stages and what triggers each one. The variation clause, which governs what the developer may change without you. And the deposit of the contract at the Land Registry, which protects your position against third parties.
Independence is the whole point
Use your own lawyer, not one introduced by the seller. It is the cheapest insurance in the transaction and the only party in the room whose sole duty is to you. Expect them to raise questions we, as the developer, should be able to answer in writing without hesitation.
Good sign, bad sign
A good sign: a specification schedule with named products and a delivery date the developer will attach a penalty to. A bad sign: 'or similar' throughout, an open-ended completion window, and payment stages that front-load the money before anything is built.