These conditions allow you to dissolve the sales agreement without penalty in certain cases, for example if you cannot find a loan to finance your house. In case of refusal of financing from the banks, this allows you to recover the security deposit left to the seller at the time of signing the compromise.
You will sometimes be told that waiving the conditions precedent reassures the seller and enhances your offer to purchase. This is true, but you are advised to only do this if you are absolutely certain that you will get your loan, if your bank has committed to follow you, for example. The Pandan Indah apartment is a very good option here.
We advise you to always put conditions precedent in the compromise: ask for the most logical conditions possible in order to be serene in your loan search, and specify realistic loan conditions.
Don’t Underestimate the Costs of Buying Your Home
Between the price of the real estate ad that made you flash and what the Pandan Indah condo for sale is really going to cost you, there is sometimes a real difference. Everyone has in mind the notary fees and agency fees, but there are others: guarantee fees, administrative costs of banking, brokerage.
It is not always possible to include them in the loan, the bank usually asks you to finance them with the contribution. Since the beginning of 2020, the derogatory files (which finance the price of the property and the ancillary costs) are much rarer, it is therefore recommended to have a minimum savings corresponding to 10% of the price of the property.
Also, don’t forget all the costs associated with maintaining a home! Apart from the work you might want to do when moving in, and which needs to be assessed and incorporated into your loan application, a home is expensive.
Whether it’s taxes, facade maintenance, or home thermal renovations, find out beforehand to make sure you can finance them.
Unfortunately, this does not apply to our Parisian friends who often have to make an offer at the price after 10 minutes of visit. But for the lucky ones who buy in a less tight real estate market, remember that you may be in a strong position compared to the seller!
In order to negotiate well, make an evaluation as precise as possible of the possible work, but be careful that it is not too low compared to the request of the salesman. You take the risk that the real estate agent will not forward it, or that the seller will be so upset that he does not make you a counter-offer. You will understand, everything is a question of balance. But you don’t lose anything by negotiating!
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