Converting the project to money.
WHAT TO ESTABLISH EARLY
Who the buyer is What they will pay When they will buy
WHY EARLY
Building something nobody wants is the fundamental development failure.
WHAT TO RESEARCH BEFORE DESIGNING
What sells in that area, at what price, to whom.
WHAT TO AVOID
Building to your own taste Specification beyond what the market pays for
WHY THAT SECOND POINT
Over-specification costs money that cannot be recovered.
WHAT OFF-PLAN SELLING PROVIDES
Cash during construction.
WHAT IT REQUIRES
Buyers' confidence that you will deliver.
WHAT BUILDS THAT
A record of completed projects Documentation at each payment stage Visible progress
WHAT TO PROVIDE BUYERS
A clear agreement stating what they receive and when Documentation proportionate to payments made Regular progress information
WHAT TO NEVER DO
Use one project's deposits to fund another.
WHY
It is how developments collapse, and it harms buyers.
WHAT TO ESTABLISH ABOUT COMPLETION
What is included What standard What happens about defects afterwards
WHAT TO PROVIDE ON COMPLETION
Title documentation Approvals Warranties Manuals for installed systems
WHAT TO PLAN FOR
Unsold units, and their holding cost.
WHAT TO CONSIDER
Letting unsold units rather than discounting.
