Construction in exchange for flats

If land owners or house owners cannot build with their own means or if they want to have their construction projects done by contractors who have done this job before, they use this construction method in exchange for flats.

The person who wants to have construction built on his land makes an agreement with the contractor and has the construction done by him. Considering this situation, the person whose land or old house will be renovated will have a new apartment with an increased value, and the contractor will make a profitable return by purchasing a house from the project. In short, the land owner and the contractor company have a mutual interest.

In the construction process in exchange for flats, firstly an attempt is made to reach a verbal agreement. A detailed presentation of the project to be carried out is made and offers are given. If an agreement is reached, the agreement is officially concluded by signing a land-for-floor contract between the land owner and the contractor. In this contract, the obligations of both parties are clearly stated.

The most important obligations of the contractor are to comply with construction techniques and zoning regulations in the project to be carried out. The materials and their qualities to be used in construction are clearly written. Additionally, the construction start and finish dates should also be specified in the contract.

The most important obligations of the land owner is the obligation to transfer the title deeds of the flats to the contractor when the project is completely completed and delivered to her in the contract signed in accordance with the laws and regulations.

Some malicious contractor companies may cause you problems by making the job a fait accompli with tempting offers. During the land-for-floor process, it would be most beneficial for citizens who own land to act carefully and carefully examine every aspect of the project, without acting hastily and excitedly. However, if you make an agreement with contractor companies that are well-known in the construction industry, have strong references, and are good at their job, you will be able to make a lot of profit from this process.