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You never have to sign a contract and you should bring it to a real estate lawyer BEFORE signing it, trying to get it changed afterwards will be a pain in the sass. The contract should include all the fees that will come up - hence why you want a professional to read it - as well as everything you're getting. So if you want an extra drat closet, it needs to be in the contract. The contract will include a fee schedule. "Pre-public", "special limited time offer" and "if you don't act now you'll miss your chance" are pressure sale tactics, don't fall prey to them. Seriously, you should have someone familiar with this process assisting you; the developers are in the business of fleecing unprepared buyers. I know that's not what you want to hear, but Saltin's points are extremely valid, and if you're about to spend three times your yearly gross on something you have not seen yet, you really need to meditate on them.
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Aug 2, 2014 13:28
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| # ¿ May 21, 2024 14:51 |
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Keep in mind that rent is the maximum you'll pay in a month, whereas a mortgage payment (Plus condo fee, plus taxes, plus insurance) is a minimum. Tree falls on the house, sewers back up, ice dams, you're going out of pocket (At least until the insurance reimburse you, if they do). You're only building equity after closing fees, interest, mortgage insurance, taxes, maintenance, repairs, condo fees and negative market fluctuations. So keep that in mind the next time someone's telling you that renting is throwing money away and that mortgage payments basically come back to you.
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Aug 2, 2014 16:54
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