Questions? We’re Here to Help.
Why Should I Get a Professional Review?
A professional condo document review can save you tens of thousands of dollars by uncovering hidden risks that a personal assessment might miss. Experts in condo reviews go beyond the basics, identifying issues in financial statements and spotting major defects or construction concerns that could lead to costly repairs in the future.
What Is a Condominium Document Review?
It helps buyers understand how the condo is managed, its financial position, and whether there are any potential issues to be aware of before buying.
What Types of Problems Can a Condominium Document Review Identify?
A condominium document review can identify issues such as pet or rental restrictions, reserve fund shortfalls, the risk of special assessments, and upcoming major repairs or maintenance costs.
What Should I Do If I Find Problems in My Condominium Documents?
If you find problems in your condominium documents, it is recommended that you discuss them with your real estate agent or lawyer. They can provide guidance on the best course of action to address and resolve any issues identified during the document review.
Who Is Responsible for Windows & Doors in Alberta?
In Alberta, exterior windows and doors are generally the responsibility of the condominium corporation, while interior windows are the owner’s responsibility.
Owners may still be responsible for items such as screens, hardware, and weather stripping.
Important exception:
For buildings constructed before September 1, 2000, responsibility may be different if the condominium corporation passed and registered a special resolution transferring exterior windows and doors back to the units.
Always have your lawyer confirm this by reviewing the condominium plan and survey documents.
Do You Serve Clients Outside of Alberta?
Yes, we provide condo reviews in Alberta and Saskatchewan.
What Types of Warranty does Confident Condo Review have?
We carry E&O insurance for our client’s protection.
Buy with Confidence: Learning from the Penhorwood Condominium Complex
The Penhorwood Condominium Complex serves as a reminder of the significant risks associated with condominium purchases. In 2011, 300 residents were evacuated within 30 minutes due to the structural unsoundness of the 168-unit complex. Concerns dated back to 2003, leading to years of litigation and a claim seeking $60 million for demolition and rebuilding.
Even after resolution, owners continued paying mortgages, with some facing serious financial hardship years later. This case highlights the long-term consequences that can arise from undisclosed risks and inadequate assessments.
A proper condominium document review can help identify red flags early—such as major repair concerns, legal disputes, or funding gaps—before you buy. Having this information upfront helps buyers make informed decisions, avoid unexpected costs, and purchase with confidence.
Realtors’ Document Review Checklist for Resale Condominiums:
- Registered Condominium Sheet (CAD)
- Registered Condominium Plan
- Offer to Purchase Contract
- MLS Feature Sheet
- Registered Bylaws
- Annual General Meeting Minutes
- Board of Director Meeting Minutes
- Reserve Fund Study
- Annual Operating Budget
- Current Balance Sheet
- Year-End Financial Statement
- Audited Financials
- Insurance Certificate/SIUD if available
- Management Contract
- Information Statement
- Notice of Special Assessment (if any)
- Engineer or Technical Audit Report (if any)
- Lease or Parking Agreement (if any)
- Restrictive Covenant (if any)
- Rules and Regulations - Owners Guide (if any)
- Encumbrance Documents (if any)
- Statement of Claim (if any)
- Newsletters (if any)
Ensure all required documents are provided for a thorough review and assessment of the resale condominium.
Got a question? Send it to info@confidentcondoreview.ca