Reader needs help with buying off plan advice pleaseMake Text Bigger
Long time reader of this great forum but unfortunately not having the time to contribute much, but hope that to change going forward.
A two part question really for myself who has been a landlord for 6-7 years, but never considered new builds/off plan properties.
A) Do people have any tips in regards to due diligence and specific questions to ask when looking at these sorts of properties outside of the obvious?
I have heard of horror stories where people have brought off plan with ridiculous increases in ground rent for example rendering the property worthless. But I’m sure there are a raft of due diligence I should perform in regards to the property and agent.
B) The Agents. A couple of properties I’m looking into are being marketed by Aspen Wolf and Parker Buchanan in Leeds. A simple google search on Aspen Wolf fills me with no confidence, talk about their developments not being on time, shoddy build and not following up on rental guarantees. What are peoples thoughts on going through these agents, any specific diligence, questions again?
Its quite annoying regarding B as the properties if build to spec and promises followed upon look really promising/attractive.
Look forward to an engaging discussion.
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