Will I get a proper Building Contract with a Payment Schedule?

Yes, most definitely. If you are buying a Real Crete Development house, we will arrange for you to enter into a direct contract for the house with an experienced local builder. This will give realistic start and finish dates, a detailed specification and schedule of payments. To ensure good and consistent quality, a typical 8 month contract will have payments as a % of contract value as follows:

35% on commencement (deposit, to include architect fees)
25% at the end of Month 2
20% at the end of Month 4
20% at the end of Month 6 ( less E1,000 retention)
E1,000 payable on practical completion

We will give you a months notice of the next stage payment due.

If like many you are buying a plot through Real Crete and are building an individually designed property in Crete, we will arrange for you to enter into a direct contract for the house with an experienced local builder after quotations are received and reported to you. This will give realistic start and finish dates, a detailed specification and schedule of payments. To ensure good and consistent quality, a typical contract will be for 10 months, and payments as a % of contract value will be as follows:

30% on commencement (deposit, to include architect fees)
20% at the end of Month 2
20% at the end of Month 4
15% at the end of Month 6 (Month 5 for a 9 month contract)
15% less E1,000 retention at the end of Month 8 (Month 7 for a 9 month contract)
E1,000 payable on practical completion.

We will give you a months notice of the next stage payment due.

© Real Crete Property 2007

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