Property Development Hiring Pros For Your Development

Date Published:

04/06/2009

As a developer, it’s important you call in the property professionals needed to see your project through. If this is your first property development your lack of expertise could mean you waste time, miss opportunities, end up with something unsatisfactory and ultimately lose money. Here’s our guide to finding the experts.

Finding A Builder

Start with word-of-mouth recommendations. Then get a price from the recommended builder and compare it with at least two more quotes. Check your builders’ qualifications: ensure they have NVQs or HNDs in construction. Check that their company is a registered member of a trade organisation such as the Federation of Master Builders, the Guild of Builders and Contractors or the National Federation of Builders. Find a builder in Scotland via the Scottish Building Federation.

Paying A Builder

Ask if you can see former work by the builder. Agree on a fixed price upfront or a daily rate of pay, and the exact start and finish date. If you employ the builder set out in a letter or formal contract what work is to be done, the payment (in stages is better for a development) and what happens if the work is poor or overruns. Agree to pay the cash when each stage is finished, holding back 10% for snagging at the end of the project. Don’t take on anyone who won’t do this.

Does Your Builder Have Insurance?

Check that your builder has public liability insurance which will pay for any negligence on their part that results in damage to your property or injury to you. This insurance isn’t a legal requirement but it is sensible for the building firm to have it.

More Help On Builders

How To Find A Good Builder
How To Create A Building Contract
Arbitration: a guide for when it goes wrong

For More On Property Development

Go to our Property Development pages for all the help you need with your development

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