How to choose the best company in Baitwatan
Disadvantages of Baitwatan Fifth Settlement
When comparing the drawbacks of Baitwatan in the Fifth Settlement with the advantages it offers, Disadvantages of Baitwatan are almost negligible. However, some clients do encounter Disadvantages. We will detail these Disadvantages to help you choose the right real estate company to work with.
Disadvantages of Baitwatan and the problems faced by investors
Disadvantages of Baitwatan can be summarized as follows, mainly due to the Housing Ministry not fulfilling some of the announced contract terms at the time of booking:
- Delayed Delivery Dates: The delivery of land plots for the first phase has been delayed by more than 3 years, with subsequent announcements of new, unrealistic delivery dates.
- Payment and Allocation problems: The New Urban Communities Authority has required clients to pay the first installment for their allocated plots without the completion of necessary utilities. Additionally, the allocation letters for the first phase included terms that contradicted the original contract, such as adding 2% to the land value and requiring the first installment to be paid upon delivery, even though it was supposed to be due a year after receiving the land with completed utilities.
- Lack of a Clear Timeline: There is no specified schedule for the completion of essential utilities, such as water, sewage, roads, and electricity, among other important infrastructure components.
Learn about the details of Baitwatan from the New Urban Communities Authority
Disadvantages of Baitwatan resulting from owners’ association
The concept of the Union of Owners is based on some companies selling units at cost price by purchasing land with funds from multiple individuals and then constructing the buildings at cost. The real profit for these companies comes from overseeing the buildings and managing the project.
However, there are several drawbacks to consider:
- Large Down Payment Required: Clients must pay the full price of the land upfront in cash, with the payment period ending upon delivery.
- Variable Construction Costs: Costs associated with construction can change with fluctuating prices over short periods.
- Execution Difficulties: If any member of the union faces problems or defaults, it can complicate the execution process. Additionally, some companies may not adhere to the agreed-upon construction specifications or contract terms.
Therefore, it is advisable to contract with companies that have a good reputation in Baitwatan.
What are the tips to follow to avoid problems and disadvantages of Baitwatan
To avoid the Disadvantages mentioned earlier, as well as other potential problems, it is crucial to contract with a reliable and reputable company such as Prime Home. Here are some important tips to keep in mind:
- Verify the Original Owner: When purchasing a residential unit, ensure that you are buying from the original landowner or their authorized representative. If the landowner is not available and only power of attorney documents exist, verify the authenticity of the documents and have them notarized at the real estate registration office.
- Check for Illegal Charges: Some companies may impose illegal additional charges, resulting in buying a unit that is larger than the one you intended to purchase. Ensure that no illegal loading fees are applied.
- Confirm the Final Contract and Power of Attorney: When contracting for a residential unit or apartment, ensure the contract includes a clause stating that the company will provide a final contract after the payment period ends. Also, ensure that a power of attorney is provided allowing the buyer to sell the property or transfer ownership if needed.
- Ensure Contract Terms are Adhered To: Many companies offer various payment plans, commonly including a 10% down payment, 10% installments, and another 10% upon delivery. Ensure that the contract does not include any penalty clauses that are not subject to judicial oversight, and be aware of potential penalties for late payments.
- Fix Prices Before Contracting: Research and verify the reputation of the company you will be dealing with. Confirm whether price adjustments will be made if construction material costs increase.
- Verify Construction Quality and Specifications: Ensure that the building work will be delivered with the agreed quality and finishing specifications.
- Check Delivery Timeframes: Before purchasing, verify the company’s track record regarding timely delivery and adherence to contracts. Check whether they have previously met delivery deadlines and contract terms.
- Choose the Most Suitable Location: Select a location that fits your budget and preferred site. Explore the best districts in Baitwatan, Fifth Settlement, to make an informed decision.
When is the Baitwatan inhabited?
Currently, all major services are available, and construction is expected to be completed by the end of 2024. This is the deadline set by the New Urban Communities Authority for real estate companies in Baitwatan to finalize all projects.
Discover the map of Baitwatan
How can you avoid Baitwatan problems
You can avoid problems with Baitwatan by working with a real estate company that has a strong track record and a good reputation in the market.
What are Baitwatan problems
Failure to deliver the land on the dates specified by the district, which leads to delays in inhabiting residents.
What do you think of Baitwatan
Baitwatan offers the highest investment return in the Fifth Settlement because it is adjacent to the New Administrative Capital. It also features strong infrastructure that is not available in other areas of the Fifth Settlement.
