House hunters must consider the developer’s track record when purchasing off-plan, according to a Liverpool property expert.

Elliot Lawless, director of Elliot Group, urges buyers to make sure they are dealing with a reputable firm when investing in schemes that are yet to be built.

He says: “For buyers the key consideration is the developer’s track record. They should look for developers who have performed to plan and to budget and should do their due diligence as they would with any other investment.

“We use a major firm of international lawyers to provide all the paperwork and this gives our investors considerable comfort, too, not to mention the full protection of the UK courts.”

Purchasing property off-plan is said to have a number of potential benefits, such as the chance to secure a discount and wider choice of specification, while its pitfalls include the risk of the scheme never being completed.

Find out more about the pros and cons of investing in a vision in our latest Hot Topic.

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