Frequently Asked Questions
Phase 1: Promotion and Reservation of the Property
¿What types of projects does Korner offer?
Korner develops VIS and NO VIS projects, subject to the horizontal property regime
According to Law 675 of 2001
¿How can I reserve a property?
You must make a minimum deposit of $1,500,000. This reservation does not guarantee the purchase until the fiduciary requirements are met and the documents are signed.
¿What happens if I decide to cancel after reserving the property?
A penalty will be applied as a percentage of the agreed down payment amount. If you have already signed the purchase agreement, the earnest money clause will apply, according to the percentage established in the agreement.
Phase 2: Fiduciary Enrollment / Legalization / Signing of the Purchase Agreement
¿What documents do I need to sign to move forward in the process?
You must sign the documents required by Korner and the fiduciary, including the 'I Acknowledge' form, the purchase agreement, and the fiduciary enrollment as the trustor.
¿What happens if I do not sign the purchase agreement within the indicated timeframe?
You have a maximum of 3 calendar days to sign it. Failure to do so may affect the
continuity of the process.
¿What happens if I delay the payment of the down payment?
If the delay exceeds 60 days, Korner may withdraw from the deal and apply the corresponding penalty.
Phase 3: Credit and Subsidies
¿How do I access a mortgage loan?
You must submit the documents required by the financial institution. Korner can help you coordinate the process. Remember, you can access a mortgage loan or leasing.
¿Can I access housing subsidies?
Yes, but you must submit the required documents in a timely manner and comply with the requirements of financial institutions or compensation funds.
¿What happens if the approved credit is less than expected?
You can request reconsideration or renegotiate with the financial institution. Korner may grant additional terms if you demonstrate a desire for financial improvement; however, you will need to find another source of financing or opt for your own resources.
¿What happens if the subsidy expires before being disbursed?
You can request reconsideration from the compensation fund; however, it is important that the subsidy is disbursed within the established timeframe, since failure to disburse due to reasons attributable to the buyer does not exempt them from paying the amount to the builder.
¿Who is responsible for paying the property tax on the property?
The payment will be made on a pro-rata basis: the builder will cover the months elapsed during the current period up to the deed signing, and the client will cover the remaining months. From the period following the deed signing, the new owner will assume the payment
Phase 4: Deed Signing and Delivery
¿How is the deed signing process for the property carried out?
Korner coordinates it with the corresponding notary and the client, and notifies via email. You must have completed your down payment, credit/subsidy documents, and meet the legal requirements.
¿What expenses am I responsible for during the deed signing process?
Notarial fees are shared 50%, while welfare and registration fees are 100% your responsibility. You must pay them directly at the notary office on the deed signing day. When Korner notifies you of the signing date, they will provide you with an estimated cost of these expenses.
¿How long after signing will I receive a copy of my registered deed?
Approximately between 1.5 and 2 months after the signing
¿What is a provisional delivery certificate?
It is the document you must sign on the day of the public deed signing. If you financed the purchase with a bank loan, the financial institutions require this document to process the subsequent disbursement.
¿When will I effectively receive the property?
If you paid for your property in full, the delivery will be on the same day as the signing of the deed. If it is financed through a credit product, once the disbursement has been made, the processing area will contact you to arrange the delivery 5 business days later.
¿What does the delivery of the property include?
Properties are delivered as unfinished (in ‘obra gris’ condition). The functional tests of your property’s systems are carried out at the time of delivery, and you will be required to sign a final delivery certificate.
¿From when do I start to assume/pay the administration fee?
From the effective delivery of the property.
¿When are the common areas delivered?
When 51% of the units that make up the building have been delivered, and the board of administration decides whether it will be the one to receive the common areas or if an oversight firm will be contracted for this purpose.
Phase 5: After-Sales and Warranties
¿What warranties does Korner offer?
10 years on structural stability
1 year on finishes (if delivered).
3 months on locks and minor elements.
¿How can I file a claim for defects?
You can exercise your right to petition according to Law 1755 of 2015 and Law 1480 of 2011. Korner must respond and assume repairs if the defects are structural.
¿What happens if there are leaks or cracks after the delivery?
If it is determined that they are structural, Korner must assume the repair. The building management may request direct intervention
PHASE 6: Customer Service and Satisfaction
¿How do you evaluate the customer experience?
Through satisfaction surveys that cover all phases of the process, including after-sales.
¿What channels do I have to communicate with Korner?
Website, social media, email, and in-person service at sales rooms and administrative offices.
