4 Important Documents You Should Check Before Buying A Condo
Buying a property is always messy. In that case, the legal process, documents and other things can confuse you. Read the article till its end to learn about some important documents that you should keep when buying a New condominium in Ari (โครงการคอนโดใหม่ย่านอารีย์, which is the term in Thai). Hope, the article can guide you in the best way.
A sale deed is a document that states the property is transferred from the owner’s name to the buyer’s name. This is one of the most important documents that need registration before buying a condo. Before you proceed with the sale deed, you must check the sale agreement that states compliance with various terms and conditions agreed upon by the buyer and seller. You should also check whether the property has a title and whether it is subject to encumbrance charges. The seller should also pay the miscellaneous costs before executing the sale deed.
A pay stub is another vital document you should have while buying a condo. It states whether you are eligible to pay your mortgage every month or not. The bank shows you 30 days’ income through the pay stub. In case you don’t have good copies of the pay stub, you can ask your HR to provide a digital pay stub.
You should have at least two years of tax returns and W2s to make smoother progress for buying a New condominium in Ari. The tax documents generally show your income history; if you don’t have one, sign the tax documents as soon as possible. The long-term tax history also indicates your ability to pay the mortgage over the loan years. If the income changes drastically between these times, the lender may ask for further explanation.
Home Inspection Report
Before you buy a condo, you should have the inspection report for the sane space. The inspector provides detailed information about the home’s condition in this report. This document will show you every detail they have found in the condo, such as photos of the problem areas. So you can understand the necessary repairs you need to make to the property.
The above are the essential documents you should have before buying a New condominium in Ari. These documents ensure that the property is risk-free and you don’t have to face any legal challenges in future. So, note those documents and proceed for a safe and secure stay in your new condo.