Dossier on the builder: how to check the new building before the deal

10.08.2011 15:22
Articles about real estate | Dossier on the builder: how to check the new building before the deal Purchase of an apartment during the "Paper", excavation or construction - it is a serious risk. How do I know not "freeze" a builder build a house, an apartment in which you buy? After sad examples in the recent past, it was enough ... to weigh the risks, looking for information, which is sometimes difficult to obtain. How to do it properly, we asked the participants and the real estate market, and professional underwriters.

Documents and Facts

Wanting to check out the partner that you trust your money on a fairly long time, pay attention primarily to the experience, reputation and size of the company. However, even these severe measures may not be an "iron" guarantee. "Construction is sometimes frozen renowned developers and lasted little-known, for example, by Dux - Roman argues Stroilov, director of private and corporate lending company Penny Lane Realty. - In the suburbs there are many real estate developers with good reputation, but if they enter the capital market to the consumer they are not familiar with. But to dismiss them from the threshold would be imprudent on the part of the buyer. The same applies to regional developers. Also, I would not pay attention to the size of the company. "

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The site of the object must be placed in the project declaration. In addition, "when meeting with a list of legal documents builder prospective buyer should pay attention to the target specified in their order of use of land that would indicate anything about the right to lease land for construction of a dwelling house, or the ownership of the land, which belongs to the category where housing is allowed "- advises Angela Kuzmina, Commercial Director UK" Unicor. "

An indicator of the reliability of the developer, of course, is to conduct activities in accordance with Federal law № 214 "On Participation in the shared construction of apartment buildings and other real estate." First, compliance with 214-FZ provides strong guarantees to the buyer, and secondly, speaks about the transparency of the authorities. And in front of customers, too: "If the project is implemented in accordance with Federal Law number 214, then the financial statements developer must provide for inspection by any person has applied. Data on accounts payable and receivable, information about the financial risks are included in the project declaration, published in the media or a website builder. In this set stringent standards of financial stability of developers, which are regulated by the Russian government (see Government Resolution № 233 of April 21, 2006), "- said Vasily Sharapov, Deputy Head of Legal Department of the investment and development company" City-XXI Century ".

On the work of contractors and materials supplied by them, and in general the quality of homes and the level of their operation can be judged by the reviews of people who have bought them an apartment. As a rule, buyers, and then the tenants, who created the HOA, share their experiences and complaints on internet forums. "Here you can get an idea of ​​how quickly connect communications, elevators, electricity, the difficulties faced by people at the beginning of the operation and carrying out repairs. These processes are characterized by good faith builder "- says Gregory Altukhov, financial adviser to the president-construction company" Leader ".
Read between the lines

"The main reason to stop construction during the crisis, in most cases was the problem with funding, so from this point of view of sound can be called that company, which has its own funds for the construction of housing", - Dmitry Taganov rightly observes, the head of the analytical center of the corporation "Incom". Sometimes the company is proud to speak of building his own money or disclose information about credit lines, but most of the information such as credit history, debt burden owed to creditors, etc., hidden from prying eyes. "Access to such information to the potential buyer is not realistic. And why would the developer to disclose information about the financial viability? Indeed, the potential buyer is not a controlling authority, also under his mask can hide a competitor or journalist who wants to publicize the fact that the company prefers to hide ", - says Roman Stroilov.

With this openness in our market situation is not very good, but sometimes the company is forced to become more transparent: "If the developer intends to attract investments in international financial markets, reporting it to investors - a necessary condition for the successful placement of issued securities," - notes Sharapov Vasily . The ideal company, the most open and robust - is that an IPO and traded on international stock exchange, but the vast majority of market participants do not have dreamed of.

So you should pick up a selection of business media whose job is precisely to monitor the market and its participants. Of them can get information on credit lines, open developer banks or state guarantees. Cooperation with banks is a plus developer: this means that the bank is in any case help to finish the object. The state guarantees, which are in the midst of the crisis was provided by some developers (eg, GC "PIC"), is also a positive factor: the customer can expect that the next time the company if necessary to support the state.
Information Information strife

However, information from the press should not be confused with public relations publications, which are present in the same publications. In general, public relations policy is largely dependent on management style and describes it instead as the company's ambitions, and not its stability. Enough to give an example of a powerful public relations "Social Initiative" - ​​a company whose activities ended sadly, or "hands-free» Mirax Group, which currently has outstanding liabilities to buyers.

"The crisis has shown that companies with the greatest PR activity during the crisis seriously brought its investors and shareholders. Only the intervention of the state they were spared from bankruptcy. Beware worth superzakrytosti when a company you can not through open sources to find the slightest information "- sums up Gregory Altukhov.

More importantly, perhaps, the quality and informative web site builder. "Site - a person of each company. Complete information about the facility, team developer, the availability and cost of apartments, documents authorizing construction of facility design and estimate the declaration says that the developer feels comfortable financial situation, time can afford the maintenance and updating of this resource ", - says Roman Stroilov.

Angela Kuzmin said that for a fee, you can get information about the financial viability of the developer - as a bank, lending the developer, and with the help of specialized information databases, for example, "Integrum Company," which contains a structured and systematic information about the current state of and economic activities, information on state registration and handed accounts of all legal entities registered in Russia.

Use the Pros
Sharonov Boris, director of risk NSKA (National Insurance and Credit Agency), share the secrets of professional underwriting. Examination of the developer and the project, he said, is carried out in three directions. First, a legal review of foundation, title and initial permits participants the construction project.

Secondly, the evaluation of the financial condition of the developer and his partners, the risk assessment scheme to attract funding, forecast the economic viability of the project. And, thirdly, an analysis of indirect factors that influence the risks: execution of developer charges, the availability and condition of sales offices, as-object construction, the presence of their own material and technical basis, analyze information from local authorities, regulators, competitors ...

Unprofessional conduct an underwriting is very difficult. But you can use the "stratagem": go to the insurance company and make it appear that you want to insure the purchase of an apartment. Large companies such as "Rosno" do not want to spend underwriting the project developer and for the sake of one man: they work only with certain developers. But smaller companies can agree on. Of course, they also have their accredited builders, but "if a person buys another player market, we conduct examination of the builder. And if it seems to be insufficiently reliable, refuse insurance, - told in NSKA. - In any event, check one or even several developers would cost the customer a fixed amount of 2,000 rubles. "But here, not everything is clear: it is recognized Boris Sharonov, if an insurer refuses to results of examination of insurance, it does not mean that the project known doomed to failure - perhaps the developer is simply applying a scheme of sales, in which insurance is impossible in principle.

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