If you are clueless as a rock on the how-to's and whatnots of real estate, then you need to brush up on relevant information regarding the purchase and acquisition of property. Oftimes, knowing the basics is enough to get you a good deal.
Getting a prime condo like Rockwell Land Katipunan is without strings or hitches. Developers cannot oversee every offer and contract drafted by their agents, so it's up to you to decide and take heed of their proposal.
As a first-time property owner and newbie in the real estate arena, here are the answers to some important questions on your condo.
1. Is it possible to refund the reservation fee?
Before entering any transactions, you need to clarify the terms of how they handle reservation fees. Real estate contracts can contain verses and loopholes that can result in penalties and additional expenses. It can be wasteful and expensive especially if you wish back out of the deal.
Consequently, you have the right to get the amount you have paid as it is illegal for developers to withhold payments for their gain. You can learn more about your right as a buyer by scanning the Presidential Decree No. 957 - Subdivision and Condominium Buyers Protective Decree. In any case, you plan to continue with the transaction, have everything in writing.
2. Are discounts applicable to the unit?
It’s tempting to pay the full amount especially when the price is significantly lower. However, avoid paying the full price without inquiring about the discounts available. Most real estate developers don’t inform buyers of their promotions and slashed prices unless the buyer asks them.
At the same time, it helps to negotiate on the price. Most developers are ready to hand out discounts and offer incentives for free furnishing. These, of course, depends on factors such as the number of units available and the completion date of the property.
3. When will the property be completed?
Dropping the question during the pre-selling stage is essential. Developers can only assume the turnover date, but they should be able to provide the target completion date.
Knowing when the property will be finished helps you plan your payment terms. Moreover, it enables you to organize your move to your new home. It allows you to curtail any expectations on the living condition of being in the area.
4. Who are your past clients?
A reliable real estate developer delivers its promises to its clients. The best ones are highly-recommended by past homebuyers and property hunters. Agents should be able to identify satisfied clients so you can rely on them for an unbiased review of the property.
Besides asking the agents directly, you can also check online reviews to see what people are saying about the development.
5. Can I make changes in the unit?
Most condos and developments have the same features. Each unit has similar interior and exterior features. Some of these details may not fit your taste, or it may not be suitable for the function you are aiming.
If you wish to make your property unique, you need to ask the agent or developer if they allow changes and renovations in the unit.
These questions can serve as your guide before and during negotiation. Keeping in mind these issues and their respective answers save you from hidden charges and problems you may encounter during your move. It also helps you become sure of your selected property because you get the information you may need that the agent may not provide. Tha satisfaction rating and flexibility in design are some of the crucial information that sellers may withhold from buyers.
Comments
Post a Comment