BUYING A CONDO ? DON'T JUST LET YOUR LAWYER READ THE STATUS CERTIFICATE..


PLEASE...PLEASE....READ THE STATUS CERTIFICATE !

 

I live in a Condominium community and I've talked to many people who bought in my neighbourhood without knowing what their condo fees do... or do not cover.

Any offer that you make on a condominium should have a condition based on the Status Certificate being approved by your lawyer. If you can see the up to date Status Certificate before you do an offer...that may be fine, but don't be persuaded that it's okay to look at an older version of one. Status Certificates change and you could be missing some very important information.

If you move in to your fabulous townhome with your lovable Great Dane ..and you find out later that there are pet restrictions and that you're only allowed a pup who weighs a maximum of 30 pounds...you're going to have to make a terrible decision.

And who is responsible for exterior painting...or windows ? Don't assume it's the Condo Corporation...cuz it often isn't. Those modest condo fees are probably low for good reason.

Your Realtor should know what the Status Certificate covers so that they can inform you of any property restrictions prior to buying...but that doesn't mean that you shouldn't read the document yourself.

AND THIS ONE'S REALLY IMPORTANT... MAKE SURE THAT IF THERE HAVE BEEN ANY NOTICES OF MEETINGS...OR EXTRA EXPENSES THAT OWNERS MAY HAVE TO INCUR...OR REVISIONS OF ANY KIND TO THE DOCUMENT PRIOR TO YOU MOVING IN...THAT YOU'RE NOTIFIED.

Buying a home of any kind is a huge investment . It doesn't take a lot of time to read the fine print and ask questions...and you'll feel a lot less angst after you move in...you'll know what you're paying for.


The Community Of Bogart Pond


Once you drive through our neighbourhood....you're gonna want to live here...Muskoka in the middle of Newmarket...feel your shoulders drop as you turn in...wave to neighbours walking their dogs...walk the wooded trails...this is home.