The developer needs to make a large investment to build an immovable in co-ownership. Therefore, he will require a deposit at the signing of the preliminary contract. The deposit is your first payment to the vendor. The amount should be proportional to the purchase price of the apartment.
I am the co-owner of a new condo. Other owners and I have recently discovered cracks in the foundation of the building, as well as water infiltration in the garage. The promoter is mute, and we have not yet transferred the administration.
Question: Should we refuse to elect our first Board of Directors, until the issues identified have been corrected? And should I sell immediately before other major problems arise?
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