Situation
The person came to me literally one step before buying. A new build in Lviv, a nice area, a fair price, the money ready. All that was left was to pay. They decided to do the check, as they say, for peace of mind.
What we checked
- the developer: how long on the market, what they've completed, whether they're in court with buyers;
- the land plot under the building: whose it is, on what basis, whether there are disputes;
- the construction permits;
- the contract they were offered to sign;
- encumbrances and seizures.
What we found
The problem wasn't the flat or the contract. The problem was the land: there were ongoing court disputes over the plot under the building. Put simply, the very land under the new build was in limbo. That means the building might never be commissioned, and the buyer risked ending up with neither a flat nor money.
The worst part is that everything looked perfect: the developer's website, the managers, the contract. The problem could only be seen in the registers, if you know where to look.
Result
The client didn't pay for a problem property. The check took a few days and saved years in court.
The takeaway
Check a new build before you pay, not after. There's a checklist in the article how to check a new build before handing over money.
Other cases
The coffee shop that registered its name in time→No. 017 · Immigration
Turnkey residence permit for a client from Peru→No. 029 · Corporate
A company in Ukraine for a client from Germany→№ 036 · IT
Software development agreement: Poland to Ukraine→No. 044 · Corporate
A restaurant in Lviv for an investor from China→
I don't name clients. Everything else I tell as it was.