As for any single home, you will have to write a promise to purchase to acquire the condo you wish to buy. Although the content of both forms is similar, the promise to purchase for condominiums includes some particularities. It is in your best interest to know them well.
In the case of a divided co-ownership property, the promise to purchase includes:
- the cadastral description of your private portion;
- if the parking lot and storage space are also private portions;
- the cadastral designations of the parking lot and storage space;
- the share and cadastral description of the common portions; and,
- whether the parking lot and storage space are private portions, common portions for restricted use or other; and,
- the area of the condo’s private portion described in the certificate of location.