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How to choose a reliable developer

Tips for choosing a reliable construction company.
18.11.2019
How to choose a reliable developer

The most important task for everyone who is going to buy an apartment in a new building is to choose a reliable construction company. In this article, we will tell you what criteria you should pay attention to in order to choose a responsible developer who can be entrusted with his money and comfortable safe living in the future.

Learn the history of the developer

First of all, it is necessary to study the history of the builder: how many years it has been on the market, how many facilities have been commissioned, the availability of new facilities under construction. A large company with a long history and good reputation is much less likely to get into a dubious history than a little-known developer who begins his first construction. The developer must have a sufficient number of successfully completed and completed projects on time. You can get acquainted with the history of the company on the official website of the developer.

Analyze the pricing policy of the developer

The next important indicator of the reliability of the developer is the price per square meter. If prices are much lower than those of competing companies - this is an occasion to think about the reliability of the company. Tempted by the low price, you risk becoming a victim of a fraudulent scheme.
You can compare prices from different developers on your own using specialized real estate directory sites.

Check the developer using online resources

To check the reputation of the developer, it is better to attract a professional lawyer whom you trust. But if this is not possible, you can do it yourself using the following resources:

  • Website of the State Architectural and Construction Inspection
    On the website of the State Architects Inspection, you can find information about the building under construction and a list of documents issued to the construction company (license, building permit, description and category of the object, information about the customer, designer, contractor).
  • Website of the Ministry of Justice of Ukraine
    The website of the Ministry of Justice of Ukraine contains information about private entrepreneurs and legal entities. By making a request, you will find out: the date of registration of the company, information about the founder, the size of the authorized capital.
  • State register of real rights to real estate
    In the State register of property rights to real estate, you can get information about the owner and purpose of the land. This can be done at the address, registration or cadastral number.
  • Judicial Register
    You can check the reputation of the developer using the registry of court decisions. It contains information on property disputes and bankruptcy of companies. To do this, enter the data of the developer, contractor, designer and other persons involved in the transaction in the search parameters.
  • Cadastral map
    The public cadastral map will help to know the owner or tenant of the land, purpose, area, cadastral number.
  • Assisted Investor Assistance Association
    The association’s website provides a list of existing problematic construction sites and developers involved in scandals. Here you can find a detailed report on each illegally constructed structure (information on litigation, videos, investor reviews, expert opinion). If the developer is related to one of these objects, concluding an agreement with him is not recommended.
  • Forums and social networks
    At thematic forums and groups on social networks, you can chat and discuss existing problems with former and current investors. The main drawback of such resources is the deliberately false negative reviews of competitors. Therefore, be careful and trust only reviews that are supported by evidence (copies of documents with violations and photos of the state of the construction site).

Check developer permissions

Permits can be found on the official website of the developer or in the sales department. The absence of a full package of documents is a warning sign, and it is better to refuse the services of such a developer. You must be provided with the following documents:

  • A license confirming the right of a company to carry out construction work.
  • Title documents for land.
    Pay attention to the lease term and purpose of the land. If the land is owned by the developer, you will be provided with an extract from the State Register of Property Rights to Real Estate in the sales department. If the land is leased, you will be presented with a lease. The term of the lease must end later than the term for putting the house into operation, announced by the construction company.
  • The building permit is from state authorities, where the number of stories of the house and the number of sections should be indicated.
  • Documents that indicate the data of the developer, customer, designer, owner of the land.

Carefully study the received copies of documents and verify their authenticity using the above state resources. Vigilance and thoroughness of the audit will help you choose a reliable developer and secure your investment in real estate.