We recommend that all Off The Plan purchasers undertake their own research on a projects developer as part of their own due-diligence.
The first point of call is the developer’s website. From there you should be able to access information relating to both past and present projects, as well as business and contact details.
From there use online forums to find out if other investors have had positive or negative experiences with the same developer in the past. Once you’re satisfied, with the developer, it is important to find out the builders that will be used for the construction of the property. A builder’s licence can be check on any number of government websites to obtain information such as:
– Details about the licensee, including the work they can do
– The date of issue and expiry of the license
– Conditions endorsed on the license
– Names of partners or directors
– The results of any disciplinary determinations and prosecutions
– The number of insurance claims paid in respect of work done by the holder
-Details of penalty notices
– Any cancellations or suspensions of the license
At VARO we perform in depth research on developers and their builders to ensure our purchaser’s peace of mind when entering into an off the plan contract. However if there are any concerns regarding the developer or builder at any stage, we welcome purchaser’s to contact us to discuss them on 08 8125 4900.