Are you buying a condo in Alberta?

Owning a Condo can be great, but before you invest, make sure to do your due diligence! The following are a few of the many things to look for before signing that contract:

1. The Condo Board Meeting Minutes- find out what has come up at past meetings;

2. The Condo Reserve Funds- check the financial status of the Condo Association/Corporation;

3. Check the Bylaws- g. is the size of your pet going to be an issue;

4. The Estoppel Certificate- to find out what the current condo fees and payment schedule are and whether there are any special levies is;

5. The Condo Association’s Budget and Financial Statements- find out what the Condo Association/Corporation is spending their budget on. If after reviewing the above and any other documents and you have concerns or don’t understand, ASK QUESTIONS!