Step by step.....
I am really looking for some more detailed information about buying a condo in Punta Cana....This is a new construction, in the second phase now....
I have given the 5% to reserve the unit...Now, I have received the offer to purchase and am having a lawyer look it over....There are several clauses in it that seem quite strange...does not mention that it is subject to the bank's approval of the loan, it claims that is will take 50% of the deposit if the balance of the funds are not received, that the price could do up at any time, depending on if materials increase and things like that...I have one unit in Canada and am not used to these types of contracts....
What should hapen next ? When should the rest of the deposit be given....should a pre approved mortgage be in place before signing the offer to purchase.....????
If anyone has any advice, pitfalls or personal/legal experience to share.....PLEASE, PLEASE, PLEASE !!!
Thanks...
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