Seven questions to ask before reserving a property

A reservation can feel like a small first step, but it often starts a series of payment and documentation commitments. Before signing or transferring funds, slow the conversation down and make sure you understand the property and the transaction.

1. Who owns the property, and what documents are available?

For resale properties, ask to review the title details, tax declaration, tax receipts, and the seller’s identification or authority to transact. For developer projects, request the project’s registration and licence-to-sell information where applicable.

2. What exactly is included in the price?

Clarify whether the quoted amount includes parking, taxes, transfer fees, utility connections, association charges, furnishings, or upgrades. A clear cost sheet is easier to compare than a headline price.

3. Is the property ready, occupied, tenanted, or still being built?

Status affects when you can inspect, move in, earn rental income, or begin renovations. If construction is ongoing, ask for expected completion and turnover milestones.

A good decision is not only about liking the property. It is about understanding what you are committing to.

4. What happens if financing is delayed or declined?

Review reservation terms and refund rules carefully. If your purchase depends on a bank loan, discuss pre-qualification and timing before paying a non-refundable amount.

5. Are there restrictions or recurring costs?

Ask about association dues, property management fees, rental restrictions, renovation rules, parking policies, and other ongoing obligations.

6. What should I know about the location?

Visit at different times when possible. Check traffic patterns, public transport, drainage, nearby services, surrounding development, and the route you will use most often.

7. What are the next deadlines after reservation?

Get a written schedule showing required documents, payment dates, contract signing, financing milestones, and target turnover.

A practical next step

Bring these questions to your property advisor and take notes. A trustworthy professional should welcome careful questions and help you obtain clear answers.