We are going to exercise OTP for buying resale condo, our first house to buy. We are a bit anxious before exercise the OTP. The owner has already signed and the agent sent the form to use.
We are going to meet up with the lawyer and sign the OTP.
(1) Could we contact the lawyer before the meeting, because we have some concerns with the OTP document.
(2) The time between OTP and Completion is changed two times, as can be seen from the documents, from 8 weeks to 10, and from 10 to 12, with signature of the owner. But we as the buyer are not aware of it. As the house has a few months tenancy after the Completion, we actually lose rents. Could we raise it up to the lawyer?
(3) The OTP document does not state about the basic condition of the house. How can we be assured of it? Should we request a writeup about the basic condition of the house, like the wall, the electricity, and the water pipes? Does the lawyer have a role in assuring the basic condition is good?
