Condo Status Certificates - What To Watch Out For

The blog discusses the importance of the condo status certificate when buying or selling a resale condo. The status certificate provides an overview of the condo building's management policies, financial statements, and the general health of the building. It also includes details on the individual condo unit and the building's rules and policies. The blog advises paying special attention to the condo's reserve fund and financial statements and ensuring that the condo's rules suit one's lifestyle. The cost of a status certificate is typically around $100, and it is almost always requested with every offer.