Did a property developer offer you a great property investment opportunity – great location, exciting development potential, attractive returns? <\/p>\n\n\n\n
Sounds exciting but it can be difficult to know what you should be asking your new property developer, especially if there isn’t actually a property there for you to look at!<\/p>\n\n\n\n
No worries! We have compiled the 10 critical questions you should be asking your new property developer to help you make the right decision. <\/p>\n\n\n\n
When you are looking at any new development, find out what other developments your new property developer has delivered in the past. You will be given a picture on the quality of work, their style of build and development layout, and what you can expect from your new build home.<\/p>\n\n\n\n
Begin by asking questions such as;<\/b><\/p>\n\n\n\n <\/p>\n\n\n\n By asking them this question, you will identify what makes the developer effective. Are they focusing only on one speciality such as blocks of apartments or a row of townhouses? Or are they more opportunistic in considering numerous strategies in various locations? <\/p>\n\n\n\n While both approaches work in the world of property – as long as the developer possesses a competitive advantage, success is in their corner. <\/p>\n\n\n\n What are the components of the developers’ edge?<\/strong><\/p>\n\n\n\n <\/p>\n\n\n\n An effective developer needs to assemble a quality team who can ensure the success of the project.<\/p>\n\n\n\n As for the main developer, check their reputation on social media to help get an overall impression. Try to Google them and see if they have been associated with any adverse news events historically.<\/p>\n\n\n\n Also, an overall quality team will need;<\/p>\n\n\n\n Make sure you check the credentials of each one.<\/strong><\/p>\n\n\n\n <\/p>\n\n\n\n You must always read through the terms of engagement and the shareholder agreement – containing critical terms which determine how the developer and investors will work together. <\/p>\n\n\n\n Do not be afraid to ask a question such as; <\/strong><\/p>\n\n\n\n <\/p>\n\n\n\n If you were looking at an existing property, it is a good idea to know who would be your potential neighbours in the years to come when your unit is completed. As you schedule an appointment to meet up with your property developer, have a chat and feel for the development. <\/p>\n\n\n\n Find out who will be living there with you, – is it likely to be families, or young professionals, or have property investors bought some of the development, meaning that the houses will be rented out.<\/p>\n\n\n\n Once you have all the pieces in your hands, decide if this is the right neighbourhood for your future.<\/p>\n\n\n\n Read more<\/strong>:<\/p>\n\n\n\n\n
2. What’s special about your process?<\/strong><\/h2>\n\n\n\n
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3. How is the reputation of the overall team?<\/strong><\/h2>\n\n\n\n
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4. Can you show me the shareholder agreement?<\/strong><\/h2>\n\n\n\n
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5. Who are the people who have bought them?<\/h2>\n\n\n\n
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