property purchase contract

5 elements to look out for in a property purchase contract

Signing a property purchase agreement is one of the main steps in the acquisition process. By signing this type of document, you agree with the conditions set out and, therefore, it is extremely important to check each one of them before “hitting the hammer”.

We know that this phase can generate some doubt, thinking about it, we brought to the post a collection of tips, with information regarding the property purchase contract. Just follow the reading!

1. The value of the property

Are you thinking of giving an entry fee? So, keep this action properly registered in the contract so that, in the future, there is no dispute.

Checking the value being negotiated is the first point along this process. After all, it can be quite unpleasant to realize that the amount negotiated is at odds with what is stated in the document

2. Payment Terms

Values ​​of each installment, due date of monthly fees, brokerage and even the readjustment rate are items that deserve your attention.

As a solution to avoid any unpleasant surprises, make sure that not only the amount but also the agreed flow is correct in the documentation.

3. Descriptive memorial and property plan

Is your goal to buy a property that is still in the plant or under construction? So, be sure to check the description of the space and the floor plan of the property. In them, you will find all the features that will, in fact, be delivered by the builder — as well as those that were previously presented at the sale.s

What are they? The characteristics of the condominium (size, towers, floors); description of the development (details of common areas – general and of each tower); finish specifications; coatings and other features that are worth mentioning.

4. Responsibilities

When the property is ready for transfer (at which time the work is completed and the customer must pay off their unit, either through their own resources or real estate financing), the buyer becomes responsible for all expenses, taxes and fees that affect the unit, such as property tax and condominium.

5. Delivery of keys

Once the unit has been discharged, the client will already be able to receive the long-awaited keys to his new property. Observe the rules of this procedure in the contract.

You must be aware that the purchase and sale contract determines the rules for the acquisition of the property. Therefore, please read the document carefully and clear all your doubts with us.

Did you see? By following these tips, it will be easy to ensure your best choice! Subscribe to our newsletter and receive more tips from Cyrela on the subject.