Tools to protect the buyer
There are 6 “TOOLS” that you have at your disposal to defend yourself from the risks and disadvantages we mentioned earlier. Some of these you can “use” by yourself, while for others you will definitely need help.
Let’s start with the simplest:
COMPANY CONTROL
When buying a newly built property, you don’t just have to look at the project or rendering, you also have to look at WHO THE BUILDER IS.
There are companies that “have made a name for themselves” in the building sector (both positive and negative), while others are little known (because they perhaps carry out small interventions) https://www.provisionhomes.com/
Doing this type of check is important because it will allow you to understand how solid the construction company and its administrators are.
A CAMERA VIEW could be a good basis to start from
BUILDING TYPE CHECK
Clarify immediately, with the builder, whether he will build in “private” or “contracted” construction . If you were to build in CONVENTIONED BUILDING, have the agreement that was filed in the municipality delivered. In this type of building, very often, there are CONSTRAINTS; It is important that you are aware of this because, otherwise, you may have nasty surprises in the event of a future resale/lease.
In case you want to buy a property in subsidized housing, ask your real estate agent or your surveyor for help, they will explain all the dynamics to you in the best possible way, as well as removing any doubts about it.
Frequently, in this construction industry, one comes across CCOPERATIVE that follow a popular economic housing plan (PEEP).
The following constraints are imposed on these properties, in the exclusive prerogative of the municipality:
– Maximum price, imposed by the municipality, for resale/lease.
– Duration, from 20 to 30 years, of the agreements.
– Termination of ties after 5 years from the first transfer.
– It may happen that the municipality remains the owner of the land (the property has the surface right) but leaves the possibility for the buyer to redeem it later (a notarial deed must be done) upon payment of an established sum.
– The municipality could also reserve a right of first refusal in the event of a future sale.
Being properties not intended for speculation, the municipal agreements also indicate some characteristics that future buyers must possess:
– Maximum income of the household (reported on the agreement)
