How do you choose your real estate projects?

We answer these and many other questions in our video blog editions.

Here is the transcript of episode 14 to read:

The project selection process is a very comprehensive and very lengthy process. At an early stage, a provider, a developer, a project initiator or a company that has an existing property approaches us and says, "That's the greatest property in Germany!" And we are supposed to sell it. Everyone thinks their property is outstandingly good and their location is great. In our product testing department, we then have six product testers who put the location and the details surrounding the property through their paces.

Before we initiate this very extensive and also expensive review process - because an extensive review process with expert opinions, site assessments and product testers, who of course also invest a lot of time, costs money - we first have regular committee meetings. There, the product management team gives a brief presentation of the product idea. And only when we then say that, from the customer's point of view, this is a property that has a really good story, that could be interesting, and if we then give the green light, then the effort of a detailed check is started by the product check and this then includes a site survey, location check, contract work check, partition declaration check, the small print that professionals check, purchase contract draft check and all these things. Someone has to read the parcel map, someone has to check the entries in the land register excerpt, and so on. That takes several weeks and is a catalog, a folder or two full of things and keywords that have to be verified and monitored.

All this effort can be made if you do it professionally.  

That is why the question of product testing and product selection is a big plus when looking at a property with professional advisors like from Immobilien-Einkommen.de.

On the flip side, I'm sure you know a work colleague, friend or buddy who will tell you, "Someone around me is selling a used condo and it's going for a bargain price."

The bargain price has a reason, because there was no extensive product testing and the disadvantages, problems and the difficulties of the property, you then unfortunately get to know later. Later means after you have bought and that is often too late. Thus, product testing and product selection play a very important role in the purchase of real estate. This ensures that in the end everything you hope for with the purchase of the capital property really happens. This is what a professional product selection and product review is all about.

Keywords:

Project selection, real estate sale, product testing, real estate purchase, product selection, risks, advice