Purchase contracts must include a deadline for completion of the project. Contractors are given flexibility for a period of usually up to 3 months. If the contractor is not able to complete the project as promised, penalties will be due according to the purchase contract. It is important for buyers to check whether the purchase contract provides for penalties in such a case. In rare cases (1% of cases), delays occur due to changes in building regulations or official approval processes that take longer than planned. In these cases, property developers, in cooperation with the customer, usually offer goodwill payments (e.g. assumption of the land registry fee of 4 % or similar), so that you can be assured of 100 % customer satisfaction in these cases.
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