Condo Buyer Tips

 

Thinking of Buying a Condo?

Are There Hidden Surprises?

Buying a condominium is similar to buying a single family home in the sense that it is real property ownership. But here is where the similarity ends. Condominiums are different. Why? well – it differs in that it has two distinct parts:

1) you will own a unit to which you get a title, and

2) you will also jointly own common property with the other unit owners in your complex

It’s the joint ownership of the common property that makes buying a condominium unique – and complicated.

And what makes condominiums so complicated? Answer – It’s the business of owning and managing a share of the common property that makes it unique. As a purchaser of a condominium you are not only buying a unit, you are also buying into the condominium corporation. And because you won’t buy into a business before checking it out, don’t say yes to your condominium purchase before having it checked out.

And how do you check it out and not let one of the biggest investments you will ever make become one of the biggest mistakes? By looking at the whole picture not just what others want you to see.

A third party review of the documents each corporation is obligated to provide could save you thousands of dollars.

Knowledge is Power! At Condo-Smart we check the documents and look beyond the obvious.

Think of a third party document review like a home inspection. At Condo-Smart instead of looking at basements and baseboards, a we look through the business of the corporation; budgets, reports, financials, and minutes.

And because we have no vested interest in the purchase or sale of the unit, we promise to give you an unbiased snap shot of just what you are buying into. No sales pitch – just the straight goods.

We work for you – the buyer. Exclusively. Our service is easy, convenient and cost effective. It could save you thousands of dollars.

Your lawyer will handle your sale – but will they check the documents BEFORE conditions are removed? Maybe yes – most likely not. And at what cost? And what do they look at and how well do they know the business of condominiums?

Avoid breach of contract. At Condo-Smart we know condominiums. It’s our business. We compliment what your lawyer provides. We look for the red flags that you may have problems living with. While the unit may be just what you are looking for – what lies beneath is what you will be living with when you take possession of your new home. We do it before you waive the conditions and while your deposit is still intact, that way if you don’t like what we find out – you don’t lose your deposit. No hassles – no regrets.

To order a document review contact us – CLICK HERE