Read what happens if an instalment is late

A payment plan works until a transfer is delayed, a salary arrives late or a family need comes first. The purchase agreement sets out what follows a late instalment: the notices the developer sends, any charges and the further steps the contract allows. These terms are easier to read calmly before you sign than when a due date has already passed. Find the late payment clause and summarise it in your own words: how much notice is given, what charges apply and what happens if the delay continues. Ask a qualified legal adviser about any wording you cannot interpret. Then set reminders ahead of each due date, and if you foresee a problem, contact the developer in writing before the instalment falls due. Prepared by Masterpiece Property. AI-generated illustration, not a photograph of an actual property or project.