A condominium purchase includes a share in the building and its finances. The status certificate shows the health of the corporation you are joining.
What we review
- Common expenses and whether any increase is planned
- The reserve fund and the most recent reserve fund study
- Special assessments, current or proposed
- Lawsuits involving the corporation
- Rules on pets, rentals, renovations and parking
- Insurance coverage and deductibles
The best time for this review is during your condition period, before the deal becomes firm. We report back in plain language so you can decide with confidence.