The Sale Law guarantee: how the money you paid the developer is protected
The Sale Law guarantee, in a 30-second video
Video transcript
3 things worth knowing about the Sale Law guarantee. Above 7% of the price of the apartment, every shekel paid to the developer must be secured, and the most common form of security is a bank guarantee. In a bank-financed project you pay only through the payment voucher booklet, and the guarantee must reach you within 14 business days. You do not return the guarantee merely in exchange for the keys, but only once the registration or the cautionary note is already in your hands.
In brief
Above 7% of the apartment price, every payment to the developer must be secured, and the most common security is a bank guarantee. In a bank-financed project, payments are made only through the payment voucher booklet, and the guarantee should arrive within 14 business days. Do not return the guarantee merely in exchange for the keys, but only once the registration or the cautionary note is already in your hands.
The full explanation: The Sale Law guarantee: what really protects your money. When you buy from a developer, you pay millions for an apartment that does not yet exist. All that stands between you and that risk is the security, so it is worth understanding exactly what you received in return for each payment.
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