Condo Status Certificate Ontario PPS Law
A review of condo status certificate (not older than 30 days) by a lawyer plays a crucial role in your consideration of purchasing a condo. One cannot simply overlook this document. It provides transparent declarations and statements relating to the condo’s financial health (outstanding fees, arrears, reserve funds and liabilities), potential liabilities (ongoing disputes and/or liens), regulations (example: pets, common area maintenance, permitted structural alterations etc.), insurance, future costs associated with the condo or unit and lastly unit specific conditions (with respect to alterations, outstanding payments and assessments).
Attention must be given to reserve funds (for repairs and maintenance), condo board oversight and its regulatory compliance (rules about pets, balcony or barbecues).
A condo status certificate can be ordered online directly from the condo board or through several third-party providers.
Though a condo status certificate is elaborate, sometimes it is never complete.
How can PPS LAW PROFESSIONAL CORPORATION help you?
If you require further assistance in the above matter, please contact us. We are Immigrant-founded, multilingual and accommodating to cater the needs of all walks of life including the working-class community. As experienced professionals, we have been successfully assisting clients in this matter to their satisfaction. Contact us today.