Part Four Synopsis:
- We have our contract meeting with the condo company
- We go over the rules and regulations of the building
- We go over insurance policies
- We pledge that we aren’t in the mafia
- We fill out more paperwork
The next step in the process to buy the condo was the contract meeting (which took about 2 hours). The meeting consisted of going over various contracts and reading 2 or 3 huge handbooks with the real estate agent. This was by far the most interesting and eye-opening part of the process. During this meeting the condo company is legally obligated to go over all of the architectural details of the building, and prove that they are a legitimate real estate company (by showing lots of documents). We also read the huge rules and regulations book of the condominium which had typical rules like: pets are okay, no loud music, let the condo association know if you plan to sublet, don’t throw objects off the balcony, etc. ). We stamped the books with our family seal and signed them once we were finished reading them. We also had a representative from the insurance company go over the insurance policies for fire and earthquake insurance. We also choose our parking space. It was a long and tedious meeting but extremely informative.
Towards the end of the meeting we had to sign a document stating that we weren’t in the mafia. I thought it was pretty funny but I can understand them not wanting the Yakuza in their condo.
At the end of the meeting we signed all the final paperwork and the condo was technically ours, but we couldn’t move in until we had the official walk-through with the condo company (more about that in part 5).