Delivery of possession months after the deed? Should I pay the full price even if I do not own the possession?
It happens that the show house can be finished precisely to be shown as a model for sales and not only finished but with the work done and the application for license of first occupation pending of its delivery.
The question to be addressed arises if, once the house is finished, the Promoter, who wants to sign the title deeds, asks the buyers to delay the possession for a few months, enough to achieve the sale of the rest of the houses or their completion.
On this particular, my advice is as follows, insofar the dwelling is finished with a certified report from an architect, is inscribed in the Land Registry with its new work and the license of first occupation has been requested, then my advice is that there is no reason for not signing the deeds. However, they must be with a condition: not to deliver the entire price of the sale.
It cannot be allowed and it is not desirable for the buyer to fulfill all his obligations and allow the seller not to do so.
The main obligation of the seller is the delivery of the possession and if it does not occur the buyer does not have to comply with the integrity of his obligations.
My advice is to reduce the payment of the price in half for example at the time of the deed and the rest will be paid by the buyer when he has the possession, and this mustl be indicated in the deed.