REAL ESTATE : EXPERTS - NEGOTIATORS - DEVELOPERS
Off-plan sales in Mauritius
Buying real estate property off-plan offers the possibility of payment in instalments and is governed by the French Civil Code in Mauritius.
Financial guarantee of completion
To answer the requirements of off-plan sales, the promoters take out a Financial Guarantee of Completion insurance with a banking institution. The Financial Guarantee of Completion provides the buyer with the assurance of the proper delivery of his property, with the banks as guarantors.
Stages of your purchase
Off-plan sales in Mauritius take place in three stages:
The preliminary reservation contract
To reserve your real estate property.
Once signed, a down payment that serves as a security deposit must be paid into a specific account opened with a notary public.
Letter of approval from the Economic Development Board
The buyers must provide the promoter with several documents required by the authorities for the purchase of property under the Integrated Resort Scheme. The Economic Development Board provides a letter of approval required for the completion of the sale.
The final contract (Deed of Sale or DOS).
Once the letter of approval has been received, the client and the seller execute the final sale contract.