Фото: How to invest in NOVOSTROY safely?

"Never, Never, Never Give Up"

Oleksandr Kolesnichenko

Head of real estate and construction practice

Construction and real estate specialist, civil engineer, specializes in land law, negotiations, and pre-trial dispute resolution.

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How to invest in NOVOSTROY safely?

Reading time: 3 min.

How to invest in NOVOSTROY safely?

Author

Oleksandr Kolesnichenko

? Investing in ? real estate, especially in today's volatile economic situation, is perhaps the most reliable and profitable investment. After all, it can not only save your savings, but also increase them, become a source of stable income.

But only if you approach the purchase of the object wisely and very carefully, calculating all possible risks.

? What can be the risks when buying an apartment during the construction phase?

? Problems with documents. For example, inconsistency in the construction of permit documentation,
fake declarations on the beginning of construction works,
lack of rights to land - all this will subsequently lead to problems with the commissioning of the house.

? Problems related to illiterate study and misunderstanding of the terms of the contract. Often in the contract there are veiled conditions which contradict the law and violate the rights of the investor. For example, a change in the cost per square meter, large penalties for late payment, lack of deadlines for refund, 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 of the condition of the apartment - all the 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 on the developer, if any;
?- Check the documents for the land, the seller's rights to the property;
?- All permit documentation for construction works;
?- Carry out a competent analysis of the investment scheme, the scheme of buying an apartment;
?- Conduct a legal analysis of contracts provided by the developer;
?- Maintain full control over the state registration process.

? How to eliminate risks?

I do not want to upset you, but it is impossible to insure 100% of the risks. Unfortunately, no one, even the most reliable developer, is insured against problems and ruin of the company
But to minimize the risks - it is in our power with you.

? What do you need to do for this?

Use all possible protection mechanisms as much as possible. This is the involvement of professional lawyers, recognized in the real estate community of strong real estate agencies, this is title insurance, which, unfortunately, has not yet been developed in our country.

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

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

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Head of real estate and construction practice

Construction and real estate specialist, civil engineer, specializes in land law, negotiations, and pre-trial dispute resolution.

Contact now
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