Document Review Service for the Discerning Condo Buyer or Seller
We do more than read documents and record facts, we put the information in context so you can evaluate the risks, the rules, managment style and expectations while living in the condo you are considering. At Condo Check® we have completed over 25000 document reviews and understand that no two condo's are alike!
Sample wording from a Condo Check® report completed in 2019: "Condo Check has reviewed ABCD Condo 14 times since 2007; while reviewing previous reports we find the Board has been consistent in their management of the project. The board has been dealing with water penetration in the units for some time. This has resulted in several special assessments over the past few years. The Information Statement provided indicates that this unit has paid these assessments in full."
Sample wording from a Condo Check® report completed in 2019:
"FYG Condo has had developer deficiency issues in the past (parkade water leaks) which required a parkade plaza waterproofing remediation. The cost of this project was $1.2M and was paid by Special Assessment from the Owners at that time (2015). This project has been completed and the Board is seeking compensation through legal action against the developer and the new home warranty."
A Condo Check® Document Review Report may contain
RED Flags and A Magnifying Glass
Easy to read, plain language report with Red Flags and a Magnifying Glass icon to bring your attention to important issues before completing the sale!
These issues can be a variety of things from a potential cash call, restrictions in use for things such a BBQ's, pets, short term rental restrictions, to changing the flooring and renovating your condominium home.
Potential High Risk Issues
We highlight any item that as a Buyer or a Seller you will want to know before conditions are removed during a sale!
We tag areas that need your attention with the magnifying glass for easy reference.
Condo Documents required:
Not all documents required are listed in the purchase agreement. Be sure to request all documents in the list provided. The management company or board members will identify what is not available. For any documents in the list with *, if not available we will comment in the report when not receiving this document will be a concern, as each condo operates differently.
In Alberta the condominium legislation is comprised of the Condominium Property Act, Revised Statutes of Alberta, 2000, Chapter C-22 and Condominium Property Regulation, Alberta Regulation 168/2000
Service Alberta provides Consumer Fact sheets that are updated as changes occur in the legislation