Behind Closed Doors: Questions to Ask Your Salesperson before Buying a Condo or House
Finding the perfect house or condo can be a daunting challenge, especially with the abundance of new developments on the market. With so many factors to consider, it's often overwhelming to gather all the crucial information by yourself. That's when the knowledge and guidance of salespeople become invaluable. For those new to the home-buying process, it's natural to wonder, "What are the essential questions to ask when purchasing a house or condo? What key details should I be aware of?" But fret not, as PropertyScout is here to help. We have curated an extensive checklist of must-ask questions that will equip you with the knowledge you need to make an informed decision.
How far is the nearest sky train station from here?
Asking which is the nearest sky train station available and how far it is from your housing or condo project will not only grant you time-saving transportation convenience in a long run but also allows you to calculate the necessary transportation expenses involved.
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Is there a shuttle bus service that can take me to the sky train station? Is it free or paid?
If there is a considerable distance between the housing or condo project and the nearest sky train station available, the next question to ask is whether or not the project offers a shuttle bus service that can take you to the sky train station (or at least closer to the station than if you were to walk there) and whether or not the service is free or paid.
Do the furniture and materials meet the standards?
Before finalizing a house or condo purchase, make sure you seek clarification regarding whether or not the furniture and materials meet the standards and from what brands do they originate from to help with your decision-making process. By asking this question before finalizing the purchase, you will be able to verify whether or not the quality of the furniture and materials are up to par with what the salesperson has informed you prior.
The Project's EIA Approval Status
To avoid wasting time and effort, it's crucial to inquire upfront whether the project has obtained Environmental Impact Assessment (EIA) approval. By confirming its EIA status, you can ensure that the house or condo you plan to purchase can be built and occupied without any uncertainties.
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Interior Space vs Common Fees
When considering the size of your room and the associated common area costs, salespeople play a crucial role in providing valuable insights. Seize the chance to inquire about how the room space compares to the common area costs in relation to similar projects. By doing so, you can evaluate the reasonableness and affordability of the common fees, enabling you to make an informed decision that balances value and your budget.
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Abundance of Amenities in the Area
When making a decision, don't forget to inquire about the availability of amenities and convenience near the project from the salesperson. Take time to explore the area and evaluate its compatibility with your lifestyle, both within the community and the surrounding condo or neighborhood. This step is crucial as a seemingly attractive and affordable residence may be situated far from restaurants or lack convenient transportation options, potentially impacting your overall quality of life.
Are the Roads Public or Private? What is the total amount of routes available?
If you rely on private transportation, it's crucial to inquire about whether the access roads are public or private and the number of available routes. This information not only affects the convenience of your daily commute but also addresses potential challenges such as restricted entry or exit times on private roads. By seeking clarification on these factors, you can ensure a hassle-free commuting experience and make an informed decision that aligns perfectly with your transportation needs.
Land Ownership and Potential Development Plans
Before making a final decision on a project, it's important to gather information about the ownership of the land surrounding it and any future development plans. This is especially crucial when it comes to condos. Imagine choosing a perfect project, only to find out later that new buildings obstruct your views. To avoid disappointment, it's essential to ask these questions in advance, empowering you to make an informed choice that aligns with your preferences.
Corporate Ownership and Management of Multiple Buildings
The corporate ownership and management structure of a condo project are vital factors for a seamless living experience and fair allocation of common areas. It's crucial to inquire about the company that owns the project and whether the management is centralized or separate for each building. If you have concerns about the reputation or track record of the corporate entity, don't hesitate to ask questions and conduct online research. Gathering this information empowers you to make an informed decision that suits your needs and preferences.
Delayed Construction Penalties
When a construction project faces delays or fails to meet its expected completion date, it's crucial to be aware of the possible consequences. It's wise to inquire about the penalties that the project developer may incur in such situations, as well as any potential discounts that could be offered. Having this information readily available can prove invaluable in safeguarding our rights. By comprehending the potential financial implications, including refunds or withheld funds, we can make well-informed decisions if the project falls behind schedule.
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Loan Rejection: Potential refunds and assets held
Experiencing a loan rejection when buying a home or condo is an unfortunate situation familiar to many. It can be disheartening to learn that despite the loan denial, your reservation and down payment funds are not refundable. Some individuals argue that the company lacks a refund policy for these funds, while others claim it is not clearly stated in the contract. In such circumstances, it may be necessary to explore legal options or file complaints with relevant authorities.
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Don't hesitate to speak up!
To wrap it up, PropertyScout is here to be your trusted companion during your condo purchasing journey. We understand that this process can be overwhelming, and you may have countless questions swirling in your mind. Our article has compiled essential inquiries to ask the salesperson, covering every crucial aspect of condo buying.
But wait, there's more! If you're yearning for a top-notch condo or seeking personalized advice, don't hesitate to connect with PropertyScout. We're not just an information hub; we're your friendly experts ready to assist you. Drop your questions in the comments section below or reach out to us directly. Let's embark on this exciting condo-hunting adventure together, ensuring you find the perfect condo that perfectly matches your needs and preferences.
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