2
Before you buy

Contents:
Before You Buy
Try not to be overwhelmed by all the information ahead.
What is it You’re Purchasing
Ten things that all condominiums may have in common.
The Developer’s Warranty
It covers both your unit and the common property for one year – but starting at different times.
Disclosure
Everything you need to know before you buy.
The Condominium Plan
One of the most important disclosure documents…
Unit Descriptions and Material Specifications
Examine the specifics carefully.
The Condominium Corporation and Board
Is there a Condominium Corporation? Who controls it? It’s important to know.
The Condominium Bylaws
Before you buy, know the bylaws.
The Condominium Budget
This will impact your life…
Condominium Fees
What fees will you pay to operate the condominium?
The Reserve Fund
Your condominium needs to set aside “Reserve” funds. You’ll need to contribute your share.
Phased Development and Surrounding Development
Before you buy, take a good look around.
Interim Occupancy Clauses
Important clauses in the Purchase Agreement that let you move in without having Title to your home.