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Torre Lorenzo Development Corp. continues to develop communities that aim to upgrade the lifestyles of the emerging affluent.
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2263 Chino Roces Ave. Ext. Makati City, 1231

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Frequently Asked Questions
Tips In Buying A Pre-Selling Condominium
May 3, 2018

Be Friends with a Good Real Estate Agent.

He doesn’t have to be Agent 007 but he does need to be honest and should stay with you every step of the buying process. Some real estate agents are just after their sales commissions and won’t even reply to your queries once you make a purchase. What’s the best way to get a good agent?

Ask friends and family for referrals and ask them how long they’ve been in the business.

Check All Amenities and Features.

When you’ve chosen a developer and a property that’s best for you, check all their amenities and features. For example, units with balconies are usually more expensive and are higher up in the condo. Do you really need one? If not, you can choose units in the lower floors which are cheaper and could be closer to more amenities.

However, if you’re looking for a 3-bedroom unit for your family, you’ll have to check the higher floors, which have bigger cuts than those in the lower floors.

Study the Layout Plan.

Floor plans serve as guides since you don’t have an actual unit to examine before you move in. At this stage, it’s best to ask your agent what the finishes will be by turnover. Ask how high the ceiling is (if you’re tall or particular about height) or if the place will be semi-furnished (with range hood, fridge, oven stove, sink, etc.) by the time you move in. Ask all questions and record them to make sure that the developer and your agent follow through with what they said.

Determine the Payment Terms.

Once you’re happy with everything and you’re prepared to pay the down payment, discuss first the payment terms with your agent. This would also be a good time to check which banks offer the best home loan deals for your intended purchase.

Inspect for Maintenance Costs Rates.

Depending on your unit size, check with the developer how much your monthly association due is. This fee covers maintenance for common areas like the lobby or hallways. Find out what other fees you’ll pay when you start living in your condo so you won’t get shocked by the numbers.

Bottom line: Be prepared to do a lot research to find out which developer and what property will best suit your needs and lifestyle. When you’ve made the decision to find a new home, you’d want everything to be planned well. Follow these tips to ensure that you will have a smooth time dealing with developers and agents. Soon enough, you can relax in your dream condo.

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