There are people out there that had issues with their condo purchase because they did not invest time to take the necessary precautions before sealing the deal of purchase. What you are required to do in buying that Van Holland condo of your dreams is more technical than what you will obtain when you want to buy a unit of a house.
You will need the expertise of an experienced condo real estate seller if you want to avoid the bobby traps that have consumed many people in the past. After the experienced real estate agent has done with his aspect of the job, you are expected to carry out your own independent research if you want to have the desired peace of mind at the end of it all.
The tips below represent what you are supposed to do before you seal the contractual terms of agreement on that excellent Van Holland condo that you are desperate to own. Here we go:
The Available Security
Your first concern should be on your security. There are issues related to security all over the world today. If you must have the peace of mind to enjoy your stay in that community; then the security on the ground should be one that have you covered 365 days in a year. What is the security situation on the ground? If you have your doubts; irrespective of the excellent features that are available in the condominium, you will be better off when you cut off the deal.
Study the agreement of co-ownership
After you have settled the issue of security, go further by taking a look the co-ownership agreement if you are satisfied with what you saw in terms of security. You need to check on the lifestyle also of the condo community if that suits your lifestyle or not and also investigate on how the administration runs the condos.
The minutes as discussed in the general meeting are very important
Your interest and happiness are at stake here. Do not spare anything, leave no stone unturned if really you want to enjoy the best benefits that you are entitled to. Go into the past of the management that is handling the condo. Ask for minutes of their past minutes and go through their discussions and agreements reached. You will get to know about the concerns of the co-owners and through that, you will get to know if the management is up and doing.
You are going to be opened to a lot of things if you take your time to go through the document which is strongly advised here. When you discover the shortcomings from the management side; you have to ask yourself the question whether you are prepared to condone what you have just seen in black and white.
If the conditions are not suitable to you; then the best option is to cut off the deal because there is a better option elsewhere.
Check on the financial strength of condo syndicate
The burden of the liabilities might be too heavy to bear if you fall into a situation where there is a big debt on the ground. Look at what the situation is and if the management is poorly managed; the best option is to look the other way around. It is very important to evaluate this situation because if budget issue is not handled properly, it leads to many issues. Extract the information about any debt if there is any on the condos and also access how the condo fees is collected. Is it a smooth process? If the management is having enough funds to deal with any contingency? This is very important in case some emergency repairs need to be done. Having contingency funds is very important in such situation. You have to consider the factors put together before you sign the dotted lines. If you are not comfortable; then you must withhold your signature! It is as simple as that.
A Complete Condo
Another area that you are to look into is the area of what the condo holds for you. If you do not want someone breathing at your neck 24/7; if you want to reduce the control of the board of directors of the condo on you, then you are advised to go for a complete condo. Though it will cost you more, you would have done yourself the favor of not having someone to charge you arbitrary fees that you are not supposed to pay in the first instance. Make sure the condo you are buying into is a complete condo before you append your signature.
The Number Of Units Owned
This is another factor that you must consider if you are to avoid falling into the hands of shylock directors. If there is a situation on the ground where people own multiple units, then the environment might not be favorable for you because the set of people with multiple ownership will have a big say in the composition of the board of directors of the condo.
The above situation is the reason why you find some directors who have spent countless years on the seat and there seems no end to their tenure of office. Such will literarily turn themselves into thin gods and they will issue out orders that you will be compelled to obey. Nobody wants that type of unpleasant experiences; then when you find such a situation on the ground in any condo management, look the other way around. There are better alternatives in Van Holland.
Take note of the above tips before you sign the dotted lines of your condo agreement.