Do you own real estate: a house, bare land, or a warehouse? A real estate developer may contact you to buy back your property. Indeed, this seasoned professional will certainly quickly explain his objective to you: to buy your property in Stanhope Gardens to develop a construction project after its acquisition and profit from it.
Since in Stanhope Gardens, the role of a developer is more or less subtle, negotiating the price of your property becomes more complex compared to a sale between individuals. If you are interested in a developer’s proposal, it is necessary to have a good grasp of all the aspects of such a transaction to better negotiate the price.
And precisely, that is the subject of this article. Let’s see how to negotiate with a real estate developer!
6 criteria for choosing a real estate developer
1. Local or national developer, who is the contact person for your real estate project?
A real estate developer in Stanhope Gardens will rather focus his work on large-scale, standardized programs. It probably has a significant financial base. However, take into account that the deadlines will be extended due to the validation of the project by its commitment committee.
A local developer, for his part, has precise knowledge of his market and its prospects for development. He already knows the local regulations to be respected as well as the environmental constraints and has a relevant network to offer you the right location and style by the aesthetics of the city or area. He will be more responsive and be interested in projects of different sizes.
2. How to find a developer
The best way to find the best builder in Stanhope Gardens for your project. Make word of mouth work, old customers talk about it the best! You can find this information by searching blogs, forums, sites, or social networks. A short visit to the builder’s website will be a must. You will generally be able to see his past achievements as well as his level of expertise.
Do not hesitate to take a tour of the trade shows. You will find a wealth of information there and will be able to chat live with developers, compare their services, perhaps even discover projects in preview.
3. Evaluate your skills
We have already talked about it but take the time to go and see the previous achievements of a developer and find out about their quality. You will thus have a good overview of what to expect for your property: quality of materials, finishes, respect of deadlines, conformity of delivery.
Also, pay attention to elements calling into question the quality of the works. Are some projects unfinished?
Finally, you can assess a developer’s level of professionalism by looking at whether he has received any awards, the references on his site, and the press articles that concern him.
4. Availability
A real estate developer who is never available, who does not take the time to listen to you or does not cut his phone for a meeting, is a developer overwhelmed in short, either because he does not delegate enough or because he is not well organized. Either way, it’s not a good sign for your project.
The developer must be able to answer all your questions, location of the property, materials used, construction process, delivery conditions, etc. The listening, advice, and responses you get on a first date will be a good indicator of what to expect when working with a developer.
5. Guarantees
The developer must present a technical section describing the mandate given to him by the contracting authority, technical characteristics, financing, conditions of execution, etc. as well as a legal section describing the guarantees to which the developer must subscribe. Among the latter, the guarantee of perfect completion is compulsory. It obliges the developer to repair all the defects of conformity and latent defects during the first year, even the aesthetic defects.
Choosing a builder in Stanhope Gardens will depend on your goals. In all cases, he must be realistic in his proposals, be able to innovate while respecting the regulations, and be able to foresee problems and offer you concrete deadlines.
6. Validation of the project by the municipality
To avoid any abuse, on your side, you will have to have the real estate value of your land or your house estimated by a professional. It is important to have an idea of the price compared to the proposal of your developer.
Also, you should be well informed about the environment close to your property. If you can attend the study carried out by the architect of your developer, it is better. The goal is to be able to tell you whether the price offered by the builder is acceptable or not.