Before purchasing a property it is important to do your own research online to get a basic understanding of how the market looks before consulting a specialist. Recommendations via word of mouth from friends and family is always a valued and reliable source, and it’s useful to speak to someone who has had dealings with a particular company before. You also need to bear in mind exactly what you want and relay this to the developers so they can visualise your ideas and also manage your expectations.
Important questions that must be asked of the developer include:
- Find out how long the company has been operating for
- Have they previously completed any developments?
- How has the development been financed?
- What is the expected completion date of the project?
There are many problems that can occur during a large construction and all relevant potential complications should be explained to you, should it cost more or affect the finish date for example. Also, it is important to ensure all documents and purchase contract be read through and examined by a lawyer. Judging these papers solely by your own knowledge is not a good idea as a property a big investment and warrants appropriate procedure.