Etsubdnk Abebe
•September 26, 2026
Buying a home is one of the biggest financial decisions you will make. Whether you are purchasing a completed apartment, an under-construction property, or an off-plan home, the property purchase contract is one of the most important documents in the entire buying process.
A contract explains what you are buying, how much you will pay, when payments are due, what the developer or seller is responsible for, and what is expected from you as the buyer.
Before signing a property contract, it is important to take your time, read the agreement carefully, ask questions, and make sure you understand the terms.
Ethiopia's Real Estate Development and Real Property Marketing and Valuation Proclamation No. 1357/2024 provides a current legal framework for real estate development, marketing, valuation, and transactions.
Here are the key things you should check before signing a property contract.
The first thing to check is whether the property described in the contract is exactly the property you agreed to purchase.
Review:
Compare the contract with the information provided during your site visit and sales discussions.
If something important that was promised to you is not included in the contract, ask for clarification before signing.
Make sure the total purchase price is clearly stated in the agreement.
Do not focus only on the initial payment. You should understand your complete financial commitment.
Check:
Ask the developer or seller to explain any cost that you do not understand.
A clear understanding of the total cost helps you plan your finances and reduces the possibility of unexpected expenses later.
The payment schedule is one of the most important parts of a property contract.
Before signing, make sure you understand:
If you are purchasing an under-construction property, understand exactly how the payment schedule relates to the project's progress.
Never sign a payment schedule that you do not fully understand or cannot realistically follow.
If you are buying an apartment that is under construction, pay close attention to the expected completion and handover dates.
Ask:
For a completed apartment, confirm that the property is actually ready for handover and understand what procedures remain before you can take possession.
A clear handover timeline is especially important if you are planning to move from another home or have financial commitments based on the expected handover date.
The contract should accurately reflect the specifications of the property you are purchasing.
Depending on the project, check details such as:
If the sales team showed you a specific finish, layout, or feature, make sure the agreed specifications are properly documented.
This is particularly important when purchasing an off-plan property because the finished apartment may still be under construction.
Marketing materials may show many features, but you should know exactly what is included in your purchase price.
Ask whether the following are included:
Do not make assumptions based only on photographs, videos, brochures, or verbal explanations.
The contract or relevant written documents should clearly identify important inclusions and exclusions.
Before signing, make sure you know exactly who you are agreeing with.
Review the developer or seller's:
Researching the developer's track record is an important part of property due diligence.
Look at completed projects, construction quality, delivery history, and customer experience where reliable information is available.
Many buyers focus on the purchase price and payment schedule but overlook the cancellation section.
Before signing, understand:
These clauses can become very important if your financial circumstances or plans change.
The contract does not only define the developer's responsibilities. It also explains what you, as the buyer, are expected to do.
Your responsibilities may include:
Make sure you understand every important obligation before signing.
If a clause is unclear, ask for an explanation rather than assuming you understand it.
Understanding the handover process is essential.
Ask:
A clear handover process helps both the buyer and developer understand what needs to happen before the property is delivered.
The purchase price may not be your only financial obligation.
Ask about possible costs related to:
Understanding these costs before signing allows you to calculate your actual financial commitment more accurately.
Make sure you understand the ownership structure and documentation associated with the property.
Ask:
Property ownership and registration can involve legal and administrative requirements. For an important transaction, buyers should verify the relevant information with the appropriate authority and consider obtaining independent legal advice.
One of the most important principles when purchasing property is simple:
If an important promise matters to your decision, make sure it is properly documented.
A sales discussion may include promises about:
If a particular promise affects your decision to buy, ask for it to be reflected in the written agreement or an appropriate written attachment.
A written agreement gives both parties a clearer understanding of what was agreed.
Never hesitate to ask questions before committing to a property purchase.
Useful questions include:
If you do not understand the answer, ask for clarification before signing.
A property contract can contain legal and financial terms that are difficult to understand.
For a significant property purchase, consider having the agreement reviewed by a qualified legal professional before signing.
Independent legal advice can be particularly useful when:
This article provides general information and should not replace professional legal advice.
The contract review process is important for every property purchase, but some issues deserve extra attention depending on the property type.
Pay particular attention to:
Pay particular attention to:
The more you understand before signing, the better prepared you are for the purchasing process.
Buying a home is about more than finding an attractive apartment. It is also about understanding the property, payment plan, construction progress, contract, and purchasing process.
At Addis Life Real Estate, we aim to provide customers with clear information about available properties, construction progress, payment options, apartment specifications, and the purchasing journey.
Our developments around the African Union, Vatican area, and Bulgaria provide opportunities for customers looking for homes and property investment opportunities in Addis Ababa.
We believe trust is built through transparency, communication, quality, and delivery.
Ready to Buy Your Home?
Before signing a property contract, take the time to understand exactly what you are buying and what you are agreeing to.
Check the property details, total price, payment schedule, specifications, handover timeline, additional costs, cancellation terms, ownership documentation, and responsibilities of both parties.
Most importantly, never sign a contract simply because you feel pressured to make a quick decision.
A well-understood agreement is an important part of a confident property purchase.
Looking for an apartment in Addis Ababa? Contact Addis Life Real Estate to explore available properties, payment plans, construction progress, and the next steps toward homeownership.
What should I check before signing a property contract?
Check the property details, total price, payment schedule, specifications, handover date, additional costs, cancellation terms, and ownership documentation.
For an important property purchase, independent legal review can help you understand the agreement and your responsibilities before signing.
Pay close attention to construction specifications, payment milestones, completion date, handover conditions, developer obligations, and delay provisions.
Important promises should be documented in the agreement or an appropriate written attachment rather than relying only on verbal discussions.
Yes. The Addis Life Real Estate team can help you explore available properties, payment options, construction progress, and the steps involved in purchasing a home.
A property contract is more than a document to sign—it is the written foundation of your property purchase.
Take your time, ask questions, verify important details, and make sure you understand your financial and contractual responsibilities before signing.
When you are ready to explore your options, Addis Life Real Estate is here to help you take the next step toward owning a home in Addis Ababa.
Beyond Promises, We Deliver.
Disclaimer: This article is for general educational and marketing purposes and should not be considered legal advice. Property laws, regulations, procedures, and contractual requirements may change. Buyers should verify current requirements and consider obtaining independent professional legal advice before signing a property contract.
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