Whether you are selling or buying a property, you will get acquainted with the certificate of location. It is an essential document. It is not too complicated although it is a little technical. Let us shed some light on this issue.
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The certificate of location is the work of an accomplished land surveyor. It basically contains numbers, such as the dimensions of the land and buildings, the number of floors of the property and its structure. But it mostly contains the general plan of the property: location of the land and pool, cadastral data, limitations, encroachments, servitudes (utility corridor), and the geographical position of all the elements present, from the shed to the hedge, including the vehicle access.[……]
We tend to examine the yard quickly. In our minds, it’s not very important. The condition of the home and its financing are of greater significance. Yet, taking the time to observe the four corners of the yard may save you many problems.
If you’re only planning to stay for a few years, you may think the yard doesn’t really count for much. Caution! If the yard hides a defect, it will affect the home’s resale price. If you intend on staying there permanently, the yard will require much thought for future projects. In both cases, a basic examination is required.
If an old tree is near the house, its roots may be so deep and spread out into the ground that they are about to crack the foundations, especially if they’re already fragile.[……]
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.
You’re willing to accept the inconveniences that come with living in a co-ownership property and you are now ready to start looking for units. Be careful! Buying a condominium is not the same as buying a house.
Are you looking for a divided or undivided condo unit? A new condo or an older one? These are two contrasting realities. A new condominium will be more modern. You might even be able to look at the blueprints of the unit under construction and offer a few of your own ideas. In addition, maintenance costs will be lower since the building is brand new. Keep in mind, however, that you will have to deal with a promoter. Sometimes, he or she tends to make last-minute changes without advising the future owners. Proceed with caution. Here is a question you should ask: Will you have to pay a monthly housing charge? If you are the Eco-friendly type, new housing is more likely to meet your criteria than older buildings, since the materials used are more current.[……]
Spring is on our doorstep. For many of you, it’s the final race to buy that first home. In fact, why not make your last-minute rush a little less stressful by calling a real estate broker. It comes with a long list of advantages. Here are the major ones.
If time is of the essence, the real estate broker will be more than welcome. Not only will the real estate professional deal with the bulk of the work, but he or she will also work at a fast pace without skipping any steps.
First buyers usually have two common concerns: a possible budget overrun and buying a home with latent defects, which would implicate unforeseen renovation work and maybe even legal complications. Again, the real estate broker is there to assist first buyers and give them the proper advice to minimize those risks.
The real estate broker also helps first buyers to better manage their stress and avoid a ton of pitfalls, such as hasty decisions causing devastating consequences, poor knowledge of the laws and regulations or a lack of communication with the coveted house’s current owner.[……]