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What Is a Condo Status Certificate? Everything You Need to Know

Author: 
Jordon Scrinko
Publication date:
March 23, 2022
Article Summary: 

This blog explains what a status certificate is and why it is important for condo buyers to obtain one before purchasing a unit. A status certificate provides information about a condo corporation's financial, legal, and physical health. It includes details about the condo's budget, reserve fund, outstanding legal disputes, and any special assessments. The blog emphasizes the importance of reviewing the status certificate with a real estate lawyer before making an offer on a condo unit.

Keywords: 

status certificate, condo buyers, financial health, legal health, physical health, budget, reserve fund, legal disputes, special assessments, real estate lawyer.

Source Citation: 
Jordon Scrinko
What Is a Condo Status Certificate? Everything You Need to Know
March 23, 2022
https://precondo.ca/what-is-a-status-certificate/
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