When considering investing in a development scheme, it’s crucial to ensure that the developer complies with the legal requirements set forth by the Real Estate (Dealers & Developers) Act. Jamaica Homes is here to provide clarity on these regulations to help you make informed decisions in your real estate ventures.
Registration with the Real Estate Board:
According to the Real Estate (Dealers & Developers) Act, developers of schemes consisting of six units or more must be registered with the Real Estate Board before commencing construction, advertising, or entering into contracts for the sale of units. This registration ensures transparency and accountability in the development process.
Key Requirements for Advertisements:
Advertisements for development schemes must adhere to specific guidelines outlined in the Act. These include:
Providing details on the total floor area and sale price of each type of building unit.
Clearly stating the precise location of the land and its physical features.
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