Documents required for a condo purchase

It is wrong if you think that condo purchase is not as complex as the home purchase. In fact, there are many things to prepare well, the required documents for instance. Before going signing the purchase contract of Grandeur Park Tanah Merah condo unit, we suggest you be familiar with the documents you will need to prepare even if you get helped by the real estate agent. When you buy a condo unit from the developer, you will receive a large book, called a public offering statement. It contains all of the legal documents, a proposed budget, a copy of proposed sales contract, and also information about the warranty.

No matter you will purchase new or resale condo unit, it is important to carefully review these following documents:

– Instruments of condominium

You should obtain and review the article of incorporation if your condo association is incorporated. Most of the general condo instruments are the Bylaws, the declaration, rules and regulations, and the plats and plans.

– A statement of the monthly condo fee that is allocated to your condo unit

By multiply the percentage of your interest in the association times the total budget, you can use the simplistic way of determining the monthly fee of your unit.

– The current budget
– The proposed budget

To make sure that you collect all of the required documents, ask the property agent if you decide to work with this professional. Well, when you can show all the documents, the real estate agent or the condo developer will process your purchase. Beware that the condo project made by the reputable developer always becomes the top choice of many people. That is why you must ensure that you already have the documents that show how ready you are for the condo unit. The early you buy the condo unit, the most options you have, which means you can choose a condo on the lower floor, middle floor, or even highest floor.