HOW TO INVEST IN A NEW BUILDING PROFITABLE AND SAFE?

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HOW TO INVEST IN A NEW BUILDING PROFITABLE AND SAFE?

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HOW TO INVEST IN A NEW BUILDING PROFITABLE AND SAFE? - yurist po nedvizhimosti 300x300 1 Investment in real estate, especially in today’s unstable economic situation, is perhaps the most reliable and profitable investment. After all, it is able not only to preserve your savings, but also to increase them, to become a source of stable income.

 But only if you approach the purchase of an object reasonably and very carefully, having considered all the possible risks.

What are the risks when buying an apartment during the construction phase?

Problems with documents. For example, non-compliance with construction permits, forged declarations on the start of construction work, lack of rights to a land plot – all this will subsequently entail problems in putting the house into operation.

Problems associated with illiterate study and misunderstanding of the terms of the contract. Often veiled conditions appear in the agreement, which are contrary to the law and violate the rights of the investor. For example, a change in the cost per square meter, large penalties for late payment, the lack of established timelines for the return of funds, in case of termination of the contract, and the like. In addition, non-compliance with the permitted number of storeys, non-connection of communications, inconsistency in the condition of the apartment – all those troubles that an investor may face.

How to minimize risks?

  • Check the reputation of the developer, developer and related real estate, the reliability of the companies involved in the project;
  • Check the activity and progress of construction;
  • Conduct a detailed audit of court cases against the developer, if any;
  • Check the documents for the land plot, the seller’s rights to the property;
  • All permits for construction work;
  • Conduct a competent analysis of the investment scheme, apartment purchase scheme;
  • Conduct a legal analysis of contracts provided by the developer;
  • Maintain full control of the state registration process.

How to eliminate risks?

 I don’t want to upset you, but it is impossible to insure 100% against risks. Unfortunately, not a single, even the most reliable developer is insured against problems and ruin of the company. But it is in our power to minimize risks.

What needs to be done for this?

 Apply all possible protection mechanisms to the maximum. This is the involvement of professional lawyers recognized in the real estate community of strong real estate agencies, this is title insurance, which, unfortunately, is not yet developed in our country.

 Unfortunately, an unreasonable desire to save money on lawyers, realtors, taxes, and the like, leads to sad consequences. Moreover, people manage to acquire risky objects even with all the implicit risks. Therefore, the success and safety of the transaction depends entirely on the adequacy of the buyer and the measures taken to minimize risks.

 Successful investment is a big and painstaking job that requires preparation and patience. If you do a good preparatory work and competently approach real estate investing, success awaits you, and you will become rich, which we sincerely wish you.

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