What is the procedure if I buy a Condominium?
The procedure for buying a condo is extremely easy. The first step is to select the property you want to buy and ensure that it has a Chanote (or at least a Nor Sor 3 Gor) freehold Land Title Deed. Your agent will negotiate the best possible price for you and the seller. When you have an agreement with the seller, ask for a copy of the Land Title Deed. The buyer pays for the lawyer’s fees. The seller (usually) pays the transfer fees and taxes, as well as the agent’s commission. Then follow these steps: • Visit your lawyer with the seller and your agent where you lay out the terms of the deal, and give the lawyer all the documents, including a copy of your passport and bank account details from you, and the land title deed. At this stage, you may be asked to give a deposit to the seller, usually 20% of the purchase price. You will be issued with a receipt that states you will forfeit the deposit if you pull out of the deal for any reason. The seller should be required to repay your depo
