Want to buy a house? Why not screen your developers!

Can’t wait for the day that you have your own home to decorate in your own unique way? Perhaps you’d like a place so that you can rent it out as a holiday home. Whatever your reasons may be in purchasing a property, buying a new house or an apartment can be very daunting, especially for those who are doing it for the first time.

To purchase a property with a great location, facilities and good workmanship, would often require a huge financial investment. However, paying more money does not guarantee that the new house you are buying is going to be as good as promised.

There are a lot of things you can do to ensure that your purchase is right for you, such as:

  • Speaking to experts
  • Checking the location
  • Comparing market prices
  • Vetting the property developer

While all these steps are very useful in helping you determine the right home, the final suggested step is often overlooked and could actually be the most significant.

By verifying a property developer’s history, you will be able to see how they have performed in the past. It may also indicate if they are able to provide you with good workmanship with a timely deliver and if they’ve ever had a history of abandoning their past projects.

While there are a lot of publications that advise homebuyers on how to identify dodgy developers and what your rights are as homeowners in case the delivered property is not up to par, perhaps the best thing to do is to take action before you make a purchase by directly screening the developers in question, to ensure that your potential home is truly in safe hands.

The situation can become more complex as some developers practice creating new subsidiaries in order to produce new properties, in such cases, it would be hard to determine the developer’s history. As a buyer, it is very important that you conduct some preliminary research into the company’s status and determine who the parent company and subsidiaries are prior to conducting a company background screen. Having properly identified the companies that are involved in your potential new home would greatly assist background screeners, like Verity Intelligence, conduct a more thorough screening and unearth red flags.

As the saying goes “to be forwarned is to be forearmed”, it is always safer to have prior knowledge of possible risks, especially when it is such a major financial investment. Feel secure in your home purchasing decision by knowing who you will be buying your property from. Screening will save you money and mitigate risks!

What to know more about what screenings can do for you? Stay tuned to https://www.verityintel.com for more articles and news.

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