Pre-construction Tips: Buying An Everglades On The Bay Miami Condo

Agreement on reservation

Agreement on reservation

In Miami, there are a lot of pre-construction projects, including the Everglades on the Bay Miami condo. If you decide on purchasing a unit and a floor plan on the building, the next step is to sign a reservation agreement. Pre-construction agreement is very different from the standard resale deal. The document involved in the transaction will clearly outline the terms and conditions of the purchase.

Dont be wary, though, if you see that the agreement is much longer than a conventional resale document other documents can even consists of as much as 30 pages. You are automatically given ten days to review the document, which you can freely discuss with your lawyer. This is a short time frame and must be immediately respected. Once you and your lawyer has successfully reviewed the document, you can submit a post dated check for your deposit, which normally accounts for as much as 20 percent of the total purchase price of the Everglades on the Bay Miami condo, for instance.

Upgrades and Decoration

Once the construction has started, many developers give purchasers the chance to pick for the finishing touches for your unit. You can approach the buildings developers consultant for this one. If you need to add something to the floor plan, dont hesitate to ask the consultant since many developers allow buyers to pay additional for upgrades on the unit.

Date of Occupancy

After purchasing a unit, you are given the date in which you can obtain the keys to your unit. You are, however, required to wait a while longer to get the title for your unit.

The next process begins from the time you move in to the unit to the day you obtain the title, or the Interim Occupancy. During this period, you pay for an occupancy fee, which will be used for the maintenance, taxes and interest.

After a year of occupying the Everglades on the Bay Miami condo, for instance, the building will enter registration and final closing, wherein arrangement for the home title as well as the outstanding payment will be settled through the Agreement of Purchase and Sale.

Mark Michael Ferrer

Everglades on the Bay Miami Condos

by: Mark Ferrer

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