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The Top 5 Red Flags Of Status Certificates

Publication date:
August 4, 2022
Article Summary: 

This blog highlights the top five red flags to look out for when reviewing status certificates for condominiums. The article emphasizes the importance of reviewing status certificates before purchasing a condo, as they provide important information about the building's financial health and potential issues. The blog identifies red flags such as high levels of arrears, special assessments, pending litigation, poor reserve fund levels, and poor maintenance. The article provides advice on how to interpret these red flags and how to proceed if they are identified. The blog concludes by noting that by being aware of these red flags, potential buyers can make informed decisions about whether or not to proceed with a condo purchase.


status certificates, condominiums, red flags, financial health, potential issues, arrears, special assessments, pending litigation, reserve fund, maintenance, informed decisions.

Source Citation: 
The Top 5 Red Flags Of Status Certificates
August 4, 2022
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