Buying an apartment under construction often begins with a reservation. Reservation is the first formal step in which the buyer shows serious intent to purchase, and the investor temporarily removes the selected property from active sale. In practice, this is the stage where the buyer chooses the floor, orientation, square footage, garage or outdoor parking space, and reviews all basic conditions before signing a preliminary agreement or final contract.
In new developments, reservation is especially important because the best units are often sold in the early stages of construction. At that point, the buyer is not only purchasing square meters, but also the position within the project, the view, layout, level of finishing, and expected move-in date. That’s why the reservation must be clear, written, and tied to specific documentation.
What a reservation actually means
A reservation is an agreement between the buyer and the investor that a specific apartment will be taken off the market for a defined period. This period gives the buyer time to review documentation, arrange financing, ask important questions, and decide whether to proceed with the purchase.
A reservation usually includes:
- the exact apartment identified within the project
- a defined price or pricing method
- the validity period of the reservation
- the reservation deposit amount (if applicable)
- conditions for moving to a preliminary agreement or contract
In a serious project, a reservation is not an informal “holding” of an apartment, it is a clearly documented step in the sales process. This is important for both the buyer and the investor, as it reduces misunderstandings and creates a record of what has been agreed.
How the reservation process works
The process usually starts after the buyer selects an apartment that fits their needs in terms of location, size, and budget. At this stage, the investor or sales team provides basic project information: floor plans, unit breakdown (if available), equipment specifications, planned timelines, construction status, availability of other units, and an overview of the current offer.
Next comes the verification of key elements. Buyers typically want to know whether the project has a valid building permit, what stage construction is in, the expected completion date, and the payment model. In under-construction purchases, these details are crucial because they affect both the safety of the investment and financial planning.
If the basic conditions are acceptable, a reservation is created. This can be confirmed through a reservation form, a written statement, or a dedicated document containing all essential details about the property and the buyer. In some cases, a reservation fee is paid, which is later included in the purchase price, and the terms for refunding this amount are clearly defined.
What documentation the buyer should request
Before paying a reservation fee, the buyer should request basic project and legal documentation. This doesn’t mean they must resolve complex legal issues themselves, but they should understand what they are buying and the project’s status.
Key things to check:
- information about the investor
- land and project status
- building permit and any amendments
- description of the apartment, size, and associated parts
- planned construction completion date
- staged payment model, if applicable
- draft of the preliminary agreement or contract
Difference Between Reservation, Preliminary Agreement, and Contract
Many buyers confuse these three terms, although each has a different role in the purchase process.
- Reservation is the initial step that temporarily secures the apartment for the buyer. It is usually short-term and serves as a transition phase while documentation is reviewed or financing is arranged.
- Preliminary agreement is a more serious legal framework. It defines the price, deadlines, payment method, property description, and the obligation to sign the final contract under certain conditions.
- Contract is the final document that formalizes the purchase, including all essential details about the property, the parties, and their obligations.
It’s important for buyers to understand that a reservation alone is usually not the same as a final purchase. Every document should be read carefully, especially the parts related to deposit refunds, timeline changes, and possible project modifications.
What to Pay Special Attention to When Buying Under Construction
The key question is not only the price of the apartment, but what that price includes. In new developments, the difference can be significant depending on equipment, parking space, storage units, finishing materials, and customization options during construction.
It’s also important to clarify:
Construction timelines and phases
Buyers want to know when construction starts, what stage the project is in, and the expected completion date. The timeline must be realistic and aligned with actual progress.
Possibility of modifications
In early project stages, there may be options for customization, such as choosing tiles, sanitary fittings, or minor layout adjustments. These should be defined in advance.
Payment method
Some investors offer staged payments tied to construction progress, while others use different models. Buyers must know when each payment is due and how it relates to project milestones.
Accurate property description
The apartment must be clearly defined by unit number, floor, size, and associated parts. Any ambiguity can lead to problems later when interpreting the contract.
This is why investor transparency is crucial
When buying an apartment under construction, trust is not built on promises but on documentation, timelines, and communication. A reliable investor provides a clear overview of the process, regular updates on progress, and a precisely defined relationship between reservation, preliminary agreement, and final purchase—along with consultation opportunities if needed.
This is especially important when buying in an early phase, as the buyer is making a decision based on plans, projections, and the investor’s ability to deliver on commitments. When timelines, documentation, permits, and purchase conditions are clearly defined, the reservation becomes a safe and logical first step toward buying a new-build apartment.