An acquisition group is made up of several people who have banded together for the purpose of acquiring land in order to construct residential apartments. The common acquisition enables the group to purchase apartments at reduced rates. The group may include people who know each other or be made up of total strangers. In addition to the benefits involved in such groups, such as reducing the costs of purchasing real estate assets, such groups are associated with numerous risks. Such risks include among others financial guarantees. One of the most significant dangers is that there is no unambiguous security regarding the credibility of the contractor and his ability to meet the schedules. There is, unfortunately, no law regulating the responsibility of the contractor. As a result, the acquisition group must face him on its own.

In addition, building permits must also be inspected. And if all this is not enough, the prices of apartments change with the final prices of the components involved in their construction, so that the final price is quite often much higher than the price promised when the project is initiated.

The staff of our law firm specializes in handling acquisition groups and ensures that all necessary procedures are handled in the best possible manner, that the right of the residents are safeguarded, and accompanies them throughout the process.