Obviously, there are also risks in making this choice, as anticipated, in relation to total or partial losses related to the activity of the construction company or to the presence of unexpected costs.
So here’s how to protect yourself:
Find information on the construction company:
A Chamber of Commerce registration is sufficient, and the collection of information related to the historical trend, perhaps by asking the area agents which other properties and complexes have been built by the company in question. This is also applicable when you go to Rent condo for sale cheras.
Study the contract carefully to understand the company’s modus operandi and what materials and techniques will be used. Do not forget to consult the energy class of your home and maybe let yourself be guided by an expert technician.
- Find out about condominiums such as a cheras condo for sale management costs, if you are buying accommodation in a building or a terraced house.
- Establish immediately how the sales contract will be structured and the amounts to be paid to pay the deposit, the down payments and finally the final balance.
Ask the manufacturer for real guarantees to protect against unforeseen events:
Know that the law requires you to issue a surety and take out insurance. We will elaborate on this point in the next paragraph.
The guarantees to ask for
Law obliges the manufacturer to deliver a surety to the buyer at the time of signing the preliminary. The details of the surety must be transcribed on the deed: it is a guarantee that protects you should the company face serious economic problems, starting from bankruptcy, compulsory liquidation and so on, without being able to fulfill the obligations of the contract.
This guarantee can be both bank and insurance, and is issued on the sale value to guarantee the sums delivered and to be delivered to the construction company.
Once the works are completed, the company is obliged to issue you an insurance policy that covers for at least 10 years the total (or partial) damage to the property and possible construction defects. The contract between buyer and builder must be stipulated by public deed, and under the control of a notary.
When You Purchase
Buying a house such as a cheras house for sale is a dream for many of us. At the moment the real estate market is favorable, thanks to low property prices and the ease with which banks grant mortgages. But is all that glitters gold? For more articles like this one, click here.