'Key Ready' properties are properties that have been finished by the builder or developer and are ready to be sold, but have not yet been purchased by anyone. They might be on the first phase of the building programme or the last phase, although in general they are more likely to be on the last phase(s) of the development. These properties are also called 'Key in hand' properties.

 The main advantages of buying a 'Key Ready' property

• What you see is what you get. The property physically exists.
• You can have the property surveyed, the appliances (if any) tested, you can see the views, and get a real feel for the property itself, the immediate area, and see how the property 'fits' into its surroundings.
• It may be that the sale price is attractive as the builder or developer seeks to complete the site and move on to the next development or stage of development.
• The builder will give you a guarantee on the quality of the building and you will have recourse to have corrected faults if there are any (called ‘SNAGS’). This guarantee continues usually for some years after the property has been built.

 The main disadvantages of buying a 'Key Ready' property

• Other properties on the same 'phase' as this 'Key Ready' property that are exactly the same might have been sold at a lower cost.