Once you have determined the legitimacy of the real estate developer and their reputation, the next question is to find out if there are any pending or unresolved issues. Unlike other niches, real estate development has a myriad of issues that take the time to be resolved. In case the issues are pertaining to ownership of land, encroachment tickets or land feasibility, I will suggest moving on. These are the three issues that might take years to resolve and the outcome may not be beneficial for your investment. Let us say, the property has an encroachment case filed against it in a court, what happens if the court asks your real estate developer to return the encroached land? These cases remain on the rails for years with uncertain outcomes. I have always avoided investing in such projects and I advise you the same. In case, there are feeble issues such as pending property inspections, audits etc. then you should go for it. Take a resolution date of the problems in written from your developer. For instance, if you are looking to invest in Park View City Islamabad then you have all the right to ask about Park View Lahore NOC before making your investment in the project.
5 QUESTIONS TO ASK A REAL ESTATE DEVELOPER BEFORE INVESTING IN THEIR PROJECT
park view city lahore Asked question May 29, 2021