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Acquisition Process

CONDOMINIUM ACQUISITION FROM A TO Z – STEP BY STEP TOWARD HOMEOWNERSHIP.

Individual freehold ownership, condominium declaration, common ownership, maintenance reserve, HOA manager, individual freehold property manager, etc. – during a condominium acquisition you will sooner or later come across some or all of these terms.

Our job is to shed some light on this arcane terminology. We will help you make the acquisition of your condominium a piece of cake. Let us initiate the joint process right here, as we brief you in this guideline on the standard steps involved in condominium acquisitions – from your initial wish to buy, all the way to the eventual transfer of title.

1. The condominium acquisition
Where Do You Wish to Live and How? What Are Your Expectations when Acquiring a Condominium as Private Investment?

This brings you to the first crossroads on your way toward homeownership. Where would you like to live and how? What are your expectations when acquiring a condo as private investment?

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Pursuing Your Condominium Acquisition in the Proper Order

All of these issues present themselves at the outset of your path to homeownership. But what are the actual steps involved in condominium acquisition? The purchase of an apartment must be closed in the form of a notarised deed. 

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2. The investment property
Owner Occupation or Private Investment – Selecting the Right Apartment

Any condominium acquisition starts with the selection of a suitable condominium. But what does “suitable” or “unsuitable” mean? Much depends on whether you are buying a condo as a private investment or as your own residence. 

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Condominiums as Private Investments

The hard facts also play a key role when buying a condominium as capital investment. With this type of condominium acquisition, sentimental reasons tend to take a backseat whereas criteria such as relettability, financial feasibility, 

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Deciding in Favour of a Condominium

So you have found your dream condo? If so, the time has come to put your money where your month is. State your intention to buy via a reservation agreement, which will secure the condominium you selected for a certain period of time. 

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3. Financing and Appointment with a Notary
The properly financing

When it comes to financing your condo, you should answer the following questions for yourself: Are you going to use your savings to buy the flat? Which bank would be your best bet for jointly realising your dream of homeownership?

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Appointment with Notary: Signing of the Deed

For many people, a condominium acquisition is the first time they are in touch with a notary. Yet even first-time buyers need not worry – because just like the condominium acquisition as a whole, the process flow of the 

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4. The priority notice of conveyance
The Priority Notice of Conveyance Protects the Buyer

Following the notarisation, the notary files for the entry of a priority notice of conveyance in the land register to protect the buyer. As a result, the buyer will be “pre-registered” as incoming owner. This keeps the condominium from 

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