Beware of All the False Marketing Claims by the Developers
Apr 04, 2017 Home Trading Steps
Yes, you are really excited and eager to buy your house of dreams. But wait! In hurry aren’t you making any mistakes let’s check? Let not your excitement turn into your mistake and developers take advantage of it. There are times where a developer may cheat you by smartly concealing the flaws and you may not even notice it. The developer may make the deal sound best and attractive for you but it may not hold as much worth as it sounds.
So let’s further notice the points which could be hidden in the brochure and not openly mentioned.
Reflecting low BSP
The developers tend to make the deal sound affordable to the buyer and they tend to show low basic sale price. The reason why such price sounds low is due to the developer as excluded additional charges like gym, club membership, PLC, parking, electricity, fittings etc. this is a gimmick used by developers to attract more buyers. This also will give a cut down on low brokerage fees which the developers needs to pay the broker.
Loading percentage
The buyer often gets confused between loading percentages as developers never advertise about loading percentage. The buyer is made to pay for super build up area and not carpet area which includes his personal property only whereas, super build up will include passage area, staircase area etc. so the usual rate of loading is 40 – 50 percent of the property value. So it’s on the buyer's side advisable to be careful with these terms and get the things clear in advance.
Misleading Photographic enhancement and representations
Developers try to usually fool buyers by showing fake photos or photos where extra editing and enhancement is done to make it look more appealing. So such photographs which have been edited to hide undesirable characteristics mislead the consumer and also the images truthfully and fairly represent the actual property. Removing or adding features and adjusting the lighting slightly to compensate for poor lighting gives a totally different picture to the buyer.
Fake testimonials
Many times to increase the sales developer tries to make fake testimonials of maybe some big figure or just people who have not bought the property but represents that they have already bought a property and are satisfied, happy clients. So the buyers should be aware of such comments and testimonials and should make sure whether they are true or not.
Non declaration of the Management costs
A developer generally says that facility management charges will be decided later on after giving the possession. The developer remains tight lipped about certain features because if the features are revealed then he possibly could not get those buyers who are willing to purchase the property but would not buy due to such unnecessary features so once he has sold out the maximum share he discloses it so that then it’s easy to target masses who will be interested in buying due to such additional features. Indirectly developers keep the buyers in dark about the fact. Though the person may not be interested in such features but will have to equally bear the cost of the facility.
Hence, never be in hurry and if you don’t get certain terms always ask for help from lawyer or solicitor as they could be the best possible people to help you out in this matter. Always visit the site as things looking in the brochure will be different to the things in real it’s also necessary to have a look at the surrounding and nearby area as it’s not mentioned in the brochure and could be only checked by visiting it personally. Buying the property can get easy when you do all the research and when you are aware and alert about everything.
So let’s further notice the points which could be hidden in the brochure and not openly mentioned.
Reflecting low BSP
The developers tend to make the deal sound affordable to the buyer and they tend to show low basic sale price. The reason why such price sounds low is due to the developer as excluded additional charges like gym, club membership, PLC, parking, electricity, fittings etc. this is a gimmick used by developers to attract more buyers. This also will give a cut down on low brokerage fees which the developers needs to pay the broker.
Loading percentage
The buyer often gets confused between loading percentages as developers never advertise about loading percentage. The buyer is made to pay for super build up area and not carpet area which includes his personal property only whereas, super build up will include passage area, staircase area etc. so the usual rate of loading is 40 – 50 percent of the property value. So it’s on the buyer's side advisable to be careful with these terms and get the things clear in advance.
Misleading Photographic enhancement and representations
Developers try to usually fool buyers by showing fake photos or photos where extra editing and enhancement is done to make it look more appealing. So such photographs which have been edited to hide undesirable characteristics mislead the consumer and also the images truthfully and fairly represent the actual property. Removing or adding features and adjusting the lighting slightly to compensate for poor lighting gives a totally different picture to the buyer.
Fake testimonials
Many times to increase the sales developer tries to make fake testimonials of maybe some big figure or just people who have not bought the property but represents that they have already bought a property and are satisfied, happy clients. So the buyers should be aware of such comments and testimonials and should make sure whether they are true or not.
Non declaration of the Management costs
A developer generally says that facility management charges will be decided later on after giving the possession. The developer remains tight lipped about certain features because if the features are revealed then he possibly could not get those buyers who are willing to purchase the property but would not buy due to such unnecessary features so once he has sold out the maximum share he discloses it so that then it’s easy to target masses who will be interested in buying due to such additional features. Indirectly developers keep the buyers in dark about the fact. Though the person may not be interested in such features but will have to equally bear the cost of the facility.
Hence, never be in hurry and if you don’t get certain terms always ask for help from lawyer or solicitor as they could be the best possible people to help you out in this matter. Always visit the site as things looking in the brochure will be different to the things in real it’s also necessary to have a look at the surrounding and nearby area as it’s not mentioned in the brochure and could be only checked by visiting it personally. Buying the property can get easy when you do all the research and when you are aware and alert about everything.
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