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 Buying a co property

To purchase a co property, a condominium for example, the approach is the same except that you add the declaration of co property to the deed.

This statement shares the building between owners and divided the portion sold and the portion to share. The split is determined on the basis of the surface occupied by the purchaser in relation to the total building area. (Duplex, triplex ...).



The declaration of co property contains some important elements:

detailed description of the fractions, prepared by a land surveyor;

assessment of each fraction;

contribution of each owner in the common elements;

condo fees payable monthly;

terms of use;

rules for meetings of owners and directors of regulations.



All owners of the property must sign this statement and it should be legalized in the registry office of the city.

Before making an offer, review the declaration of co property.

Heating and lighting of his personal space, insurance, repairs and maintenance are not included in condo fees.

When you are looking for a condominium, be attentive to:

use the services of an inspector to examine the structure of the building and its systems;

check the age of the building and find the renovations made previously;

explore common areas and grounds;

talking with residents who are on site;

inquire if it is possible to renovate or rent your home.