Recently seen constant growth in the number of people willing to buy housing, " on green" and under construction

In either case, the client purchases the property either from the construction company or from the investor. In these cases there is a period in which the customer has paid a certain amount for the property, but he is not yet completed. After the crisis in 2008, many customers stepped back and became much more cautious, as well as exploring how well the company they trusted was financially stable. But what should buyers take into consideration and what should they check for? The main steps are six and everyone who decides to buy a property under construction must do.

1. Check the company in the Commercial Register. This way you will know the names of the owners and managers, the amount of the capital and the annual financial statement. There are cases in which the investor is different from the builder. In this case, you should check both sides.

2. You need to check and make sure that the company is listed in the Central Professional Builders Register kept by the Bulgarian Construction Chamber. This will ensure that the company has no liquid and pending public tax liabilities and liabilities for obligatory insurance contributions; is not declared bankrupt and is not in bankruptcy or liquidation proceedings; has the technical equipment for carrying out the required construction and assembly works; has the necessary qualified staff.

3. You need to check for which group and construction category the builder has entered. According to the Spatial Planning Act, high-rise residential buildings are of third category; residential and mixed buildings with an average construction are the fourth category, while those with low buildings and villas are in fifth grade.

4. Check out what certificates the company owns. A quality management system implemented, although not mandatory, means that the company has made efforts, including financial, to create order and control in its work, materials and documentation.

5. Look at the information plate of the building in which you plan to buy. Compare the data with the information you have.

6. Ask what is the history of the construction contractor. Visit his previous projects and, if possible, talk with the owners. Collect as much information as possible from customers who have already worked with the builder.