How to check the developer before buying an apartment?

Buying an apartment in a new building in Kyiv is a serious and troublesome matter. Despite the attractive prospect of becoming the first home owner, it is necessary to prepare carefully so as not to find yourself in a very unpleasant situation. And there are risks, it must be said. The most important of them is not to wait for the object to be commissioned. Often, developers announce the start of sales when the foundation of the future house is laid. Buyers are attracted by lower prices and favorable installment terms. And the developers are driven by only one desire — to return the funds spent on construction as soon as possible. Read also:

Taxes when buying an apartment.Selling apartments at the excavation stage is a common practice in the real estate market, not a fraudulent scheme. Be that as it may, the most valuable thing that a developer has is his reputation. And the delay in terms of construction and putting the facility into operation can greatly spoil it. If the developer is conscientious, he will fulfill his obligations to investors in any case. But how to check the reliability of the developer when buying an apartment, if delays in terms of delivery of the object are not rare at all? We will talk about this in detail in this article.

See also: Power of attorney for the sale of an apartment.

What to check with the developer when buying an apartment?

The simplest and most obvious answer to the question of what to check when buying an apartment from a developer is documents. However, many things may be unclear to an inexperienced buyer. You cannot do without the help of a lawyer. But for now, let's postpone these considerations and talk about what you can do yourself to check the developer's reliability when buying an apartment. By the way, if you decide to quickly buy an apartment in Kyiv, we recommend contacting the best luxury real estate agency THE Capital.

1. 1. Search for information on the Internet - you can go to the official website of the developer, but, of course, you will not find any compromising material on it. Therefore, spend a little more time and dig well in the world wide web. If there is even one small, dark spot on the developer's reputation, there will be information about it on the Internet. There are also real estate portals where you can find developers who have been affected by bad faith. On special forums, you can learn about the success of the company's experience in implementing previous projects in all details.
   2. To call the sales department is not a useless way to check the developer before buying an apartment. The main thing is to be persistent and inquisitive. Do not hesitate to ask the manager about all the details, down to the quality of noise insulation materials and their heat resistance. Also, clarify whether the company has long-term buildings and whether there were objects with changed construction dates and, most importantly, what is the deadline for handing over the house.

1. Follow the construction progress — this is the best check of the developer before buying an apartment in Kyiv. Of course, you will not be able to visit the facility often and look into every corner of the construction. The Internet will help you - on the official website of the developer there are reports on the progress of construction work, which are updated from time to time. If they are not there and there is no possibility to monitor the construction site in real time on the website, then something clearly went wrong.

Let's move on to the most responsible stage of checking the developer before buying an apartment in Kyiv — to studying construction documents. The entire package must be provided to you by the sales department and must contain:

• construction permit at the specified address;
• contract with the contractor and land lease;
• technical passport to the home, postal address provided to the home and building license;
• confirmation of putting the residential quarter into operation and documents for connecting city communications.

In the absence of sufficient experience and minimal legal knowledge, checking the developer before buying an apartment in Kyiv may not yield any results. It is better to consult a real estate lawyer on this matter. A highly qualified specialist will accompany you at all stages of the agreement — from the discussion of details to the final signature in the contract. This way, you will save time and effort, as well as protect yourself from possible risks. Subscribe to our real estate blog updates and receive new posts from THE Capital real estate agency.