In the German legal system, there is a regulation with a monstrosity of a name: Makler- und Bauträger Verordnung (MaBV), which can be translated as Agent and Developer Ordinance - not much better. I will ignore the part dealing with agents for this purpose.
This ordinance regulates when and under which conditions a developer is allowed to take money from a buyer or the buyer's bank. Yes, this is right, he can not only not ask for the money if the conditions are not fulfilled, he is not even allowed to take it if you offered it - who would?
The regulation defines 13 instalments of the purchase price related to the building progress. Only up to 7 instalments are allowed, meaning that the developer will provide a payment plan which will bundle some of these instalments.
Here is an infographic about the 13 instalments:
|Instalments according to MaBV|