How to choose the right developer
Each investor has a different approach to choosing a developer. Some study documents and contracts meticulously, acting on the nerves of the developer's managers; others rely more on intuition; and some trust their blood savings because a neighbor or best friend did so...
However, the Elite Center and the like never helped out. By various estimates, to date, from construction scams, and simple, from the unsuccessful management of developers suffered many people.
"Many of them pinned their hopes on the state's help. However, even here the investors were disappointed. All the efforts of the officials ended with the creation of commissions on the problems of underdevelopment or the development of various regulations. It did not come to real help. Of course, a simple Ukrainian will not always be able to recognize fraudsters, but he must fulfill his minimum program. To do this, you just need to know about the main risks of investing and methods of their detection.
A simple and popular way. According to the law, after the liquidation of the enterprise, all obligations of the latter stop. In order not to invest money in the bankrupt enterprise, before signing a contract, it is necessary to get the ansam abu dhabi extract from the state register of legal entities and individual entrepreneurs. This document contains information about the stay of the enterprise in bankruptcy, liquidation, etc.
The developer experiencing financial problems, before finishing the construction of one house, begins to attract funds for the construction of the second and third. Money received from the sale of new objects is directed to the construction of the problem one. And there is no more money for the second and third objects later. In order not to become a victim of scams, carefully study the history of the developer company and its reputation in the market.
lack of permits
The risks are significantly increased if the developer does not have the necessary permits (building permit, declaration of the beginning of construction works, documents certifying land rights, etc.). It is prohibited to build without such documents. Even if the object is completed, the investor will not be able to become its owner. The liquidity of such property and its value is significantly reduced.
If the developer has a large creditor indebtedness to his partners, the investor's money is likely to be used to pay off such a debt rather than to build a house. In order not to risk your investment, you should study the unified state register of court cases. In it you can find information about debts to third parties. Also, it makes sense to go yas acres to the construction site and talk to the builders. If workers are not satisfied with the level of wages, delays or non-payment of wages, it is the first "bell".
A common scam is double selling of the same apartment. There is no need to go far, it is enough to remember the infamous scam "Elite Center", where the developer sold the same apartment several times, receiving super-profits.