How to have adequate control on your real estate investment relationship with a developerOluwakemi Adeyemo
Therefore, business relationship with an estate developer is such that should be taken seriously as if your breadth depends on it even before it begins. I bet you don’t want a frustrating journey for that long.
So you need to check well to know what is within your control before signing the dotted lines with especially the developer in your face.
Below are some pointers to help you check and pick a real estate developer that will make your investment journey smooth at least.
1. Existing client experience (Client reviews)
- The client already on site for an already habitable estate
- Recent clients
Client experience is usually not the same across the board. However, you can glean one or two objective facts from other people’s story.
2. Company structure and business process.
3. Ease & cost of secondary sale or ownership transfer process
As an investor in a developer’s estate, you must find out and know the kind of ownership right you will be getting on a land or house. You also need to know the pros and cons of the right you acquire or will be acquiring as an investor. For instance, would you as an investor be able to transfer your right to a new investor with or without the developer’s input? If with the developer’s input, you should know at what likely cost as well as the process so you can factor that in upfront.
4. Company’s process & clause for your exit as an investor.