izomax
New Member
Pre-construction condo questions
I am a new to pre-construction condos and I have some questions. Here a typical advertisement of the deposit structure:
1. Does "balance to 5% in 30 days" just mean 5% of the outstanding balance?
2. When should I talk to the bank to get my mortgage? Now or on occupancy?
3. What if the condo construction got delayed?
4. Are pre-sales condo price negotiable? How many % can I expeceted?
Thanks!
I am a new to pre-construction condos and I have some questions. Here a typical advertisement of the deposit structure:
$2000 with offer, balance to 5% in 30 days, $1000 every 3 months until occupancy and 5% on occupancy.
1. Does "balance to 5% in 30 days" just mean 5% of the outstanding balance?
2. When should I talk to the bank to get my mortgage? Now or on occupancy?
3. What if the condo construction got delayed?
4. Are pre-sales condo price negotiable? How many % can I expeceted?
Thanks!
Last edited: