Landmark unit helps buyers evaluate property.
Landmark Property Management (LPM), a division of real estate consultancy Landmark Properties, is introducing new methods to help buyers fully understand the condition of their newly-purchased property during the handover period.
In a bid to protect and educate new property owners in Dubai and Abu Dhabi, LPM recommends carrying out a comprehensive condition survey at the time of handover to garner an in-depth understanding of any defects for which developers are liable during the standard one-year defect liability period.
Defects include faulty electrical sockets, poor tiling, unleveled floors or ceilings, inferior paintwork, and misaligned doors and windows.
"Having a professional carry out a condition survey provides buyers with an in-depth picture of their property at the time of handover and a list from which the developer can work to ensure greater buyer satisfaction and better return on investment," explained Donna Newman, head of LPM.
"Putting the new property under a 'microscope' ensures that developers rectify faults and defective workmanship at their cost, not the homeowners, as they are contracted to do so," she added.
LPM's expert team of surveyors is qualified to carry out comprehensive technical and photographic reports that identify any defects in a new property, said a statement.
The report advises new homeowners on the steps they should take to look after their property, enabling them to provide developers with a full rectification or 'de-snag' list and ensure that everything within the property is fitted and working at the time of handover.
By employing this service, costly replacements can be avoided at a later stage, helping to ensure that properties maintain their value and that the new home owner is paying for a valued property.
"Until now, many of the region's new homeowners have not been aware of their rights when taking possession of a new home," continued Newman.
"However, having a snagging report or condition survey carried out to make sure that everything is fitted and working correctly at the outset will provide greater piece of mind while potentially saving substantial outlays for replacements at a later stage."
By commissioning LPM to conduct a conditions survey at the time of purchase, owners can take full advantage of the defect liability period (DLP), a one-year contractual entitlement in which buyers can report defects in their newly purchased property which are then the developer's responsibility to rectify.
During the DLP, Landmark Consultants work with owners and carry out a thorough and detailed photographic evaluation of the property, ensuring that any defects are identified and rectified by the developer thus saving the owner the expenditures.
While property developers conduct a basic snagging prior to handover, the experience and training of the LPM Consultants ensure that building, mechanical and electrical faults are properly identified and rectified. -- TradeArabia News Service
Copyright 2008 www.tradearabia.com
Copyright 2009 Al Hilal Publishing & Marketing Group
Provided by Syndigate.info an Albawaba.com company
|Printer friendly Cite/link Email Feedback|
|Publication:||TradeArabia (Manama, Bahrain)|
|Date:||Oct 14, 2009|
|Previous Article:||Milco to relaunches milk, yoghurt range.|
|Next Article:||Investcorp unit acquires US oil services firm.|