12 Tips for Choosing a Credible Property Developer

Property developers clearly play an important role in property transactions. Not being careful in choosing a developer can lead to disappointment.

There are many cases that have occurred due to lack of careful selection of developers. For example, building a product that does not match the promise, even to the point that someone cheats and takes away consumers’ money. For that, before deciding to buy a house or other type of property, consider tips on choosing a good property developer based on the steps in the following points:

  1. Advantages of Buying Property Directly from Property Developers
  2. The Importance of Choosing a Credible Property Agent for the Best Residential
  3. 12 Tips for Choosing a Credible Property Developer
    1. Pay Attention to Developer Reputation to Assess Credibility
    2. Avoid Paying Down Payment Before the Home Ownership Loan Application is Approved
    3. Do not take over if the certificate has not been renamed
    4. Check Developer Legality
    5. Pay attention to the Commitment of the Agreement Given
    6. Has Established Cooperation with the Bank
    7. On Time in Home Construction
    8. Understand the Responsibilities of Property Developers in the Event of Default
    9. Make a Deed of Sale and Purchase Immediately After the House Is Finished
    10. Manage Title Certificate Status
    11. Avoid Underhand Transactions
    12. Don’t forget to take care of building permits

Well, let’s just find out more about tips on choosing a property developer so as not to be disappointed in the future.

Advantages of Buying Property Directly from Property Developers

If you plan to buy a house through a property developer or developer, it will not be difficult to determine which house to choose later. You just need to come and then choose what type of house you are looking for, for example a classic, minimalist, contemporary or other style. Furthermore, you will be required to prepare funds according to the request. After that, you can directly occupy the house from the property developer.

An important advantage is the safety factor. The safety factor is one of the reasons why many people finally choose to buy a house from a developer. Moreover, today’s housing generally applies a one-way entry and exit ( one gate system ), and it is not uncommon for some to apply a more sophisticated id card system . In addition, if you choose cluster housing, you can trust to property development melbourne. There are several additional facilities that are usually included in the purchase price of the house, such as playgrounds, public swimming pools, worship areas and sports fields.

The Importance of Choosing a Credible Property Agent for the Best Residential

Preparation for buying a house at a price according to the budget is not short, starting from researching the location, the price according to ability, determining the type of house size to determining how to buy a house. Furthermore, there are certainly many who are confused about buying through a property developer or building it according to their own wishes. For the security and convenience of a more practical transaction, you can take advantage of the services of a professional property agent. There are many types of property agents to choose from, ranging from property agents specializing in the area to property agents specializing in apartments.

In choosing a property agent, the most important tips for choosing a developer are choosing a credible property agent. Don’t let it be because you are not careful and lack of research, the funds you have collected for years to buy a house are not maximal. Therefore it is important for you to read a lot of tips on choosing a developer.

When you have found a credible developer, you must consult all your needs and abilities in buying the house you dream of clearly. If you want to take an installment scheme, ask in detail about the most appropriate Home Ownership Credit scheme. Buying a house through a credible agent will make the legality of the house more secure. House prices like this are more stable, so you know the range of funds needed.

12 Tips for Choosing a Credible Property Developer

The developer factor is very important. Because with property development companies, they will become partners in legal affairs or legality, both at the level of ordering a house with a binding sale and purchase agreement, or with a deed of sale and purchase when the sale and purchase will be carried out. Tips for choosing an important developer are that it will be relatively safer if you buy a house from a developer company that has gone public .

This group of developers is relatively not much affected by banking regulations, because they generally have many alternative sources of funds, so the risk of delays in house construction is not too great. Other tips on choosing a developer will be explained in 12 points below to help you in choosing a credible developer.

1) Pay Attention to Developer Reputation to Assess Its Credibility

Tips on choosing a developer first, check the reputation of the developer. Reputation can be checked by several factors. For example, whether the development company often disappoints its customers based on the testimonials of previous buyers. This can be sought by reading readers’ letters in the mass media or mass media coverage of housing cases.

2) Avoid payments with the Down Payment system before the Home Ownership Loan Application is Approved
Tips for choosing a second developer, don’t pay Down Payment before your Home Ownership Credit scheme is approved. You can also make an agreement with the property developer regarding the timeliness of handover and the quality of the building before making a booking fee . If the developer applies a booking fee system and 20% DP is forfeited if we cancel the purchase, you can make an agreement with them.

For example, if a developer is late in submitting a letter of sale and purchase agreement, they will be subject to a fine of 1/1000 of the value of the building. A good property developer usually won’t mind. But on the other hand, you also have to be consistent in the accuracy of the down payment.

3) Do not take over if the certificate has not been renamed
Tips for choosing a third developer, various reasons might be the reason you want to take over to another bank, from the bank that you are currently using for Home Ownership Credit. But usually, this will be difficult to do, because in general the bank will ask for a certificate in your name when applying for take over to them.

If you haven’t transferred the ownership certificate from the property developer, then it’s likely that you won’t be able to take over . This is something that must be considered from the start, when choosing a bank as the source of your Home Ownership Loan.

4) Check Developer Legality
Tips for choosing the fourth developer, make sure the area of ​​land built for housing has a parent certificate issued. As a consumer, you have the right to ask and see for yourself the certificate. If the certificate is pledged as collateral to the bank for the purposes of the project, you can be a little fussy to see the Deed of Granting Mortgage and Mortgage Certificate.

If the legality of the location of the housing to be purchased is still in the form of a location permit, the risk is very high. For that, first ask for the master copy of the certificate. A good property developer will not hesitate to show it.

The developer’s biggest and heaviest job is actually at the land acquisition stage. If this stage fails to be completed by the developer, the project may fail and the down payment already deposited by the consumer can be problematic.

5) Pay attention to the Commitments of the Agreements Given
Tips for choosing the fifth developer, when promoting housing, developers usually promise various facilities, ranging from the facilities of the house itself, to supporting facilities, such as shopping centers, club houses , recreational facilities, and others. With banking regulations in the property sector, it is possible for developers to ignore the facilities that have been promised to reduce costs. We recommend that you confirm things like that to the developer in order to get clarity on what facilities will be obtained when occupying the house.

If you have already deposited the reservation or down payment, while the developer still has a location permit, you should ask for the money to be returned, even with a small discount for administrative fees. That’s why it’s important you have a handle when booking a home. The handbook is the Sale and Purchase Binding Agreement, which is agreed on the specifications of the house, the price, the method of payment, the handover of the house, the maintenance of the house, complete with the rights and obligations of each and the sanctions. You must understand the Sale and Purchase Binding Agreement properly before signing and paying.

6) Has Established Cooperation with the Bank
Tips for choosing the next developer, look for property developers who have also collaborated with banks. Because before collaborating with developers, banks usually evaluate and verify property developers, including checking land status, land use, certificates owned by property developers, and other aspects such as public facilities, social and environmental conditions.

Banks can also be an initial filter on the credibility of property developers. If the property developer has not worked with the bank before, the thing you can do is turn the matter over to the bank. A good bank will definitely evaluate and provide recommendations first.

7) Punctual in Home Construction
Tips for choosing the seventh developer, the risk that is very likely to be experienced when buying a house through a property developer is that the development time deviates from the target. You may be faced with conditions such as the house not being finished, even though the payment has been paid off.

The house may also have been completed but so beyond the specified target (too late). The finished house can also be finished, but not according to the initial standards or specifications until the results are bad.

Avoid the various things above by choosing a property developer who is reliable and has a good reputation in the business they run. If you encounter these things in the construction of a house you must complain and ask for compensation.

8) Understand the Responsibilities of Property Developers in the event of Default
Tips for choosing the next important developer, if you see the magnitude of the possible loss you will incur on buying a house through a property developer, it is very important to anticipate various default actions that may be taken by the property developer. Understand this obligation well, you can find it in the house purchase agreement in detail to find indications of default.

9) Make a Deed of Sale and Purchase Immediately After the House is Finished
The next tip for choosing a developer is to understand the Sale and Purchase Deed. The Sale and Purchase Deed shows that the rights to the land and buildings have been transferred to another party. You can take care of this Sale and Purchase Deed after the house has been completed. Make sure the developer is fair and open in managing the Sale and Purchase Deed.

10) Manage Property Certificate Status
Tips on choosing the next developer is the management of the Certificate of Ownership. After you make a Deed of Sale and Purchase, you will get a Building Use Rights Certificate from the property developer. Then, you can convert the Building Use Rights Certificate into a Property Rights Certificate.

11) Avoid Underhand Transactions
Tips for choosing a developer, the most important thing is to carry out a sale and purchase agreement witnessed by authorized state officials with complete documents. Never make transactions under the hands of an oral agreement or stamp duty, because this is very risky to cause losses and the complexity of legal handling. Do it according to the procedure, if it turns out that the house is still pledged to the bank, then transfer the credit to the bank with a notarized deed.

12) Don’t forget to take care of the building permit
The last tip for choosing a developer is obtaining a building permit. You need to make sure that the house built by the property developer has a building permit. This letter has become a necessity of the establishment of a building in Indonesia. Make sure that in every home document management the developer is transparent and easy to communicate with.

So before buying a house make sure you understand correctly the tips for choosing a good property developer. So, are you ready to choose the right developer? Start your research and apply the tips on choosing a developer from this article. Hope this article can help you find a credible developer.