New Home : How To Choose Your Real Estate Promoter ?
Buying a new home in a real estate program is a long-term project that can quickly become complicated in the event of late delivery or a home that does not conform to the plan. In the current crisis, to avoid this type of setback, it is more important than ever to choose the right developer. We explain to you how to choose your real estate developer in 5 questions.
1- How to optimize your research?
If you are considering buying a new home in a real estate program, you should know that this project is a long-term adventure.
Check out the list of real estate developers in your area and you'll realize that the choice is vast and complex! That's why you need to start by defining what your needs are in terms of housing.
In order to properly choose your real estate developer, you need to determine in advance:
- the type of new property you are looking for
- the location of the property
- the budget you have available
- the delivery date you are interested in.
It is essential to clarify all of these criteria before starting your search among the ads presenting different real estate programs.
Most of the time, a developer commercializes new properties in VEFA (sale in the future state of completion). This means that you will buy your future new apartment or your future house on plan, without being able to visit this real estate. You can usually visualize your future home thanks to a 3D model or a virtual visit of a sample apartment.
However, the real estate project remains to be built and you must trust the developer. You rely on this professional to carry out the construction at a date and a price agreed upon at the signature of the contract.
2- How to find the right promoter?
The choice of the real estate developer is crucial in a VEFA new property purchase project because this real estate professional will accompany you throughout your project.
This multi-hatted specialist does not just sell you new real estate off-plan. He also ensures the follow-up of the realization of the real estate program from the beginning to the end.
It is on him that the success of your investment in new real estate and your satisfaction at the time of the handing-over of the keys depend in large part. Therefore, to be sure to go through with your acquisition project and find the home of your dreams, you must first and foremost make sure to make a good choice of real estate developer.
3- How to know if a promoter is reliable?
In the current crisis, it is more essential than ever to take a few precautions before embarking on a new property project.
In order to choose your real estate developer properly, you must first make sure that you are dealing with a serious and reliable professional.
To do this, it is recommended to check the following points :
- Is this developer affiliated with the Federation of Real Estate Developers (FPI)?
- Does it present good financial health on societe.com?
- Does it have a proven track record of successful real estate transactions?
- Have previous clients posted favorable reviews online about the quality of the properties, their compliance with the plan and their adherence to deadlines?
- Does this developer have certifications such as NF Habitat?
- Has it received awards and distinctions for the quality of its achievements?
To be noted: the FPI or Federation of Real Estate Developers is the only professional organization representing developer builders in France. This federation currently has 680 real estate development companies and covers the entire metropolitan area through a network of 18 regional chambers.
4- What are the other qualities of a good promoter?
Even if a developer has excellent references and good reviews on the web, nothing beats direct contact to choose your real estate developer well. Real estate developers are the privileged interlocutors of buyers: they are the ones who guide them and help them avoid pitfalls when buying a new apartment.
After having carried out the checks we have listed above, we therefore advise you to solicit an appointment with this provider.
A direct 'face-to-face' contact will indeed allow you to assess the availability and listening skills of your contact, two indispensable qualities for the professional who will accompany you throughout your new real estate project!
When you embark on a project of such importance, it is essential to find the right partner. This is why it is not enough to consult a list of real estate developers!
You also need to meet them in person to make sure they are ready to answer all your questions about the characteristics of the property (its location, the materials used, its features), the construction project and its delivery times.
5- What are the promoter's obligations?
As you can see, when you plan to buy a new apartment off-plan, it is very important to choose your real estate developer carefully.
If this type of investment worries you, you should know that the sale in the future state of completion is very much framed by the law in order to protect the buyer.
Real estate developers have the legal obligation to subscribe to several guarantees :
- The guarantee of perfect completion covers for 12 months all apparent defects or faults recorded in the report of receipt of work.
- The biennial warranty covers for 24 months the elements that can be repaired without touching the structure.
- The ten-year warranty covers defects that compromise the solidity of the construction or make it unfit for its purpose for 10 years.
- The damage to work insurance taken out by the seller before the start of the building work ensures that the damage is quickly repaired before any liability is sought.
When buying a VEFA, a notary is responsible for checking that the property developer has taken out all of these mandatory guarantees.
By buying off-plan, you make a real estate purchase without seeing the property, but not with your eyes closed! You can be reassured because you benefit from a certain number of guarantees as to the proper completion of the construction.