Himself underwriter

The question of how much to trust a particular developer, very seriously worried buyers. We are talking about large sums, and perform its obligations if the developer - God knows. Assess the reliability of the company, holding home construction, non-specialist is not easy, but worth a try. Important factors on the reliability of the developer can not be judged by a single feature, they must be considered together. The first experience is taken into account, the amount and quality of finished property. It would be nice to figure out timing of the project if there was any downtime. "The average dynamics of the building - two or three stories a month for cast house and four or five for panel" - directs Angela Kuzmina, commercial director of the Criminal Code "Unicor". It is necessary to know how many years the developer on the market - the longer term, the less risk that at some point the company will disappear from view. However, even such serious measures as experience, reputation and firm size are not "iron" guarantee. "Sometimes developers are famous frozen objects, and little-known continued," - says Roman Stroilov, director of private and corporate lending Penny Lane Realty. However, if the developer enters into a large holding company whose business is diversified, its reliability higher, says Vasily Sharapov, Deputy Head of Legal Department of the investment and development company "City - XXI century". Often, the problems of failure time due to the fact that the developer or contractor led subcontractor. Therefore, it is useful to familiarize themselves with all project partners. "Poorly selected pool of contractors at high risk construction, poor execution of works, untimely provision of facility construction materials and connections to networks of electricity and water supply", - says Dmitry Taganov, Head of Research Center Corporation Incom. Indicative and may be the choice financial partner, architect, consultant, realtor. "Any professional values ​​its reputation and is committed to selecting a partner, so a well-known names in the project is an indirect confirmation of reliability - confirms Alexei Sidorov, director of development Kalinka Realty. - We have refused to work with the developer, because they could not assess its reliability and did not want to risk his name. " The work of contractors and materials supplied by them, and indeed the quality of homes and the level of their operation can be judged by customers reviews of apartments. Special attention should be paid to the object itself, like Alexander Sidorov. Talk about the reliability of the project can be used only if it is implemented in accordance with the law, that is, the developer has issued all of the documentation received permission to build and has published papers properly. The site must be placed in the project declaration. In addition, "when meeting with a list of documents the builder should pay attention to the target specified in the order they use the site, which would indicate either a leasehold or ownership of land, which is classified as a permitted residential construction", says Alexander Kuzmin. Look into somebody's pocket is very important, but the most difficult time - assessing the financial viability of the firm. Key factors here - the presence of liquid assets and creditor claims, the value of the share capital, sound financial policies, a positive balance sheet. Sometimes the developer is proud to announce that builds "its", or disclose information about loans, but most of the information such as credit history, debt load, etc., are closed. Nevertheless, journalists can sometimes much so that you can rely on information from the business and specialized media. Some of them manages to gather information about the agreements between developers and major banks. The presence of such a partnership - a good sign: banks have a complete financial analysis of the developer as a borrower and a detailed estimate of its reliability. As said Kuzmin, information about the consistency of the company are available for a fee - in the banks lending the developer, or of special databases, such as "Integrum company." Indicator of reliability, of course, is the conduct of activities in 214-FZ. First, it provides significant assurance to the buyer, and secondly, speaks about the transparency of the authorities. And in front of customers too. State guarantees, which are in the midst of the crisis have been provided to some developers (eg, GC "PIC") - is also a positive factor: the buyer can expect that the next time the company will support the top. It really helps the stability of the leaderships of business relationships in local government - but they can only learn informally, sometimes from the press. Even better presence on the boards of officials or former officials. Nonexponential PR Transparency - a weighty dignity developer. In the Russian market with this situation is not very good, but sometimes the firm is forced to become more open: "If the developer intends to raise funds in international financial markets, reporting to investors - a necessary condition for the successful placement of issued securities", - says Vladimir Sharapov. The ideal company, the most open and safe - is that an IPO and traded on international exchanges, but the vast majority of market participants do not have dreamed of. Moreover, transparency should not be confused with active promotional activities. But if the information activity is sharply reduced or even winding down - this is indicator of problems. In general, public relations policy is largely dependent on management style and characterizes the ambition of his but still firm, not its stability. In the example could be "social initiative" whose activities ended sadly, or "loud» Mirax Group, which now has a very serious problem. More importantly, perhaps, the quality and informative online resource developer. "Site - a person of the company. Availability of information about the facility, the team, the cost of apartments, permitting and design documents, estimates suggest that the financial condition of the developer satisfactorily, if he can afford the maintenance and update of this resource, "- said R. Stroilov. How the pros do the secrets of professional underwriting shares Sharonov Boris, director of risk NSKA (National insurance and credit agencies). According to him, and expertise of the developer of the project is carried out in three directions. First, the legal analysis of constituent, constitutive, and the initial and permissive documents. Secondly, the evaluation of the financial condition of the company and its partners, risks scheme to raise funds, forecast the economic viability of the project. Third, the analysis of indirect factors that influence the risks: execution developer charges, the availability and condition of sales offices, the state itself the object, the existence of their own material and technical base, analysis of information from local authorities, regulators, competitors ... In order to fully implement all of this work, the expert of the insurance company must have a sufficiently wide range of knowledge, skills and connections in law, construction, real estate transactions, insurance. You should be able to read documents, organize the information, make generalizations, have analytical skills. Can an amateur at something like that? "Assessment takes into account too many factors, not just legal ones, are often not obvious to the experts far for the layman and even for an academic lawyer" - says Boris Sharonov. This opinion is shared Stroilov R., "Professional to determine the reliability of the developer is very difficult. A person who is not familiar with finance, legal and real estate development activities, generally unrealistic. " "Moreover, we are against the provision of detailed information of this kind to anyone else, and not only for reasons of protection of know-how - continues BI Sharonov. - The fact that the data underlying the conclusions of expertise is informal, and giving her the publicity could hurt your project and the developer. " You can apply a "stratagem": go to the insurance company and make it appear that you want to insure the purchase of an apartment. Large organizations such as ROSNO will not conduct underwriting and developer of the project for one client - they only work with certain companies. But smaller companies can agree on. God only knows How to agree to the experts, the criteria on which to confidently determine the reliability of a company does not exist. Even the most thorough and professional expertise does not guarantee that problems in the future. "We are just trying to adequately assess the current status of the project and its participants, to make a forecast, and forecast that, as weather has not always come true property", - said Boris Sharonov. And do not forget the country in which we live. Neither the developer is not immune to shocks that may occur suddenly, at the whim of local authorities or other officials, like Robert Stroilov. May be fatal and sudden change of government or its policy, which leads to a change in building codes, and rules for admission of housing the state commission.