Before signing any contract, it is extremely important to read it through carefully to make sure you know what you are entering into. The same can be said for a property report if you plan on having your new home built on a property development.
A property report is provided by the property developer. It contains all you need to know about the development you are thinking about building on. For example, it will provide information about the amenities you will enjoy when the development is completed. It should also tell you about the availability of water, sewer, gas, and other utilities. Additional information such as distances to local communities and recreational facilities should also be included. The report should also tell you about the property you are buying such as information regarding mortgages and when you can expect to receive the title to your property. The report will also alert you to potential issues that might delay construction.
As you can see, the property report contains information that is crucial for anyone wishing to live in the development, and this is only a small sample of what it contains. So, take the time to read the property report carefully before you sign.