Buying a property on the primary market is already fraught with a lot of risks. If you are interested in buying a luxury condo in Singapore, get direct developer price for Canninghill Piers from https://canninghill-pier.com.sg/.
Young people and families have to search for a suitable area for a long time, evaluate the infrastructure, neighbouring housing complexes, the location of industrial zones and more. It is also important for buyers to estimate in advance the cost of future repairs, to find optimal building materials, contractors, and even independently or with the help of a designer to think about the location of things in the house.
Here, you will find out what documents to demand from the developer in the first place and what to pay increased attention to. So, you can significantly reduce the risks of signing a contract with cheaters and keep their own nerves.
Tip 1: Check the reputation of the developer
Study thematic forums, groups and pages in social networks, ask the opinion of friends. In the age of computer technology and feedback, no one will be able to completely remove negative comments or facts about themselves.
On the forums a sea of information about developers. Messages from other shareholders will quickly oust suspicious companies or those using dodgy schemes.
Tip 2: Be sure to demand and check the documents of the construction company
For the purchase of real estate have to pay a considerable amount. That’s why you should not be shy and check every single document of the developer.
Below is a minimum list of monitoring papers:
- Developer’s license Permission to build a new building;
- Constituent documentation
- Financial papers
- Projection documentation
- and land rights.
If you are denied the right to read the original or notarized copies of the listed documents, boldly leave and forget about the developer.
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Tip 3: Follow the letter of the law and check the founding documents
A genuine company must have a company charter, ask for a certificate of state registration and registration with the tax service of country. Always check whether the name of the developer is correctly stated, the coincidence of legal and actual address.
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Tip 4: See the duration of the license and building permits
Not all buyers know that the developer must have the appropriate license and permission to build a complex residential tower. In the first document, clarify the date, number, type and body that issued the relevant paper. It is necessary to make sure 100% that the license has not expired, and the company legally conducts its own activities.
The second document indicates that the developer can be involved in the project and permission is issued for the object where you plan to buy a home.
Tip 5: Check the documents on the land
Before you buy, you must know who owns the land occupied for construction. Not always the developer owns the land, and takes it on long-term lease. Always check when the lease expires. These tips are a minimum list of steps to get rid of many problems in the future. With the help of simple actions investors will be able to find a really profitable option for buying.