A Pinui-Binui project is a complex deal where owners surrender old apartments for demolition in exchange for new ones. To protect your rights and avoid loss of property, the developer contract must contain key clauses.
1. Strong Guarantees and Collateral
The most important safeguard is a **Sale Law Bank Guarantee representing the value of the new apartment**, delivered before demolition. The developer must also provide an autonomous rental guarantee, tax guarantees, and a structural warranty bank guarantee.
2. Rental Subsidies and Relocation Costs
Developers must pay realistic monthly rent allowing owners to lease comparable apartments in the same area during construction. In addition, the developer must fully fund moving expenses both ways.
3. Precise Timelines and Technical Specifications
The contract must set exact milestones (permitting, demolition, construction, delivery) with financial penalties for delays. Detailed technical blueprints for the new apartments (finishes, storage, parking) must be annexed.