Offer to Purchase - conditions

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Cgyguy
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Offer to Purchase - conditions

Post by Cgyguy » Sat Mar 29, 2008 6:17 pm

Hi, I'm wondering if anyone has any tips on "must have" conditions to include as part of an offer to purchase a condo in Old Town? Just trying to cover my bases on the purchase. Any suggestions would be great. Thanks Cgyguy

marcos
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Post by marcos » Sun Mar 30, 2008 4:41 pm

When we purchased our house (not a condo) 3 years ago I attempted to include a number of conditions that are normal for the US. One of these as "the right to get an professional inspection and to be able to back out of the contract if the inspection showed significant defects".

My conditions were all rejected out of hand.

I believe that Mexico (in general) is not used to these types of conditions being part of a contract to purchase.

My suggestion would be to get the answers to your conditions prior to making the offer. For instance, get the "condo associaiton documents", get them translated and review them before making your offer. The same goes with inspections and any other things that you require.

Of course, you run the risk of someone else making a non-contingent offer while you are doing your due dilligence.

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kcowan
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Post by kcowan » Sun Mar 30, 2008 4:43 pm

Get a standard offer to purchase document from AMPI for a template. Specify exactly what you expect. All appliances are expected to be in working condition at closing. If you expect coffer maker and microwave to be included, specify it. Also resale condos are usually sold with furniture so take pictures of all furnishings, dishes, drawer contents at offer time for comparison at closing time. Allow enough time for the notary to do a proper title search.

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