The Importance Of Ethical Practices In Property Development
When Purchasing a Property: The Duties of an Ethical Property Developer
Purchasing a property is a significant investment, and it’s crucial to choose a developer who upholds ethical standards. An ethical developer not only delivers on their promises but also ensures a smooth and transparent process for the buyer. Below are key duties that every ethical property developer should fulfil, and how failing to do so can damage their reputation.
1. Adherence to Floor Plans
An ethical developer ensures that the property delivered matches the floor plans advertised during the sale process. Buyers rely on these plans to make informed decisions, and any deviation can lead to disappointment and mistrust. Developers should take great care to adhere strictly to the specifications and design presented to buyers.
2. Provision of Title Deeds on Completion
One of the most critical duties of a property developer is to provide a title deed upon completion of the project. The title deed is a legal document that confirms ownership of the property. Without it, the buyer cannot claim full ownership or secure their investment. Ethical developers ensure that this process is completed without unnecessary delays.
3. Delivering a Livable Property
A property should be handed over in a condition that is fully livable. This means that all breakages, cracks, or other issues must be addressed before the handover. An ethical developer will inspect the property thoroughly, fixing any defects and ensuring that it meets the promised quality standards. This attention to detail is essential for maintaining trust and satisfaction.
4. Settling Utility Payments
Before handing over the keys to the new owner, an ethical developer should settle all outstanding payments related to the construction of the property. This includes electricity, water, and any other costs incurred during the building process. Ensuring that these expenses are cleared protects the buyer from unexpected bills and demonstrates the developer’s commitment to responsible business practices.
The reputation of a property developer is built on their adherence to ethical practices. By ensuring that the property matches the advertised plans, providing a title deed, delivering a livable home, and settling all utility payments, developers can build a strong, trustworthy reputation. On the other hand, failing to meet these basic duties can severely damage a developer’s name. If you encounter a developer who consistently neglects these responsibilities, it’s crucial to spread the word to protect others from being misled. We need more trustworthy developers in the industry and fewer who take advantage of their clients.
