In 2023, having a lawyer check your Condo Status Certificate is going to be more important than ever! Professionally investigating your certificate ensures you get what you paid for in your deal. Buying a condo only to find out it did not come with a parking spot could be a big problem. Preventing these types of misunderstandings is why status certificates exist.
Here are some of the specific things that should be contained in the Condo Status Certificate:
-Location of storage locker & parking spot if applicable
– Common expense amounts
– Arrears (unpaid expenses) associated with the unit
– Current legal actions against the Condo Corporation
– The balance of the Condo Corp’s reserve fund
– Outstanding repairs that are needed
– Condo rules, restrictions and regulations
When you get a lawyer to review your certificate you can feel comfortable that you know what you are getting yourself into. Your lawyer will be able to tell you what you should expect in the next few years in terms of costs. They will also be able to help you understand the type of lifestyle you could live.
When you contact Larson Lawyers for help with your condo purchase you can be sure that you will have the best advice from a friendly face. The first thing your legal advisor will do is get to know you as a person. Next they will learn about your condo, your finances, and other important and relevant matters. After that they will begin working on your deal, and keep you informed of the progress. Finally they will ensure that your deal goes as smoothly as possible.
Call Larson Lawyers today for your condo deal, 807-285-7777.