Condo Conversion ?

Tim Blake

New Forum Member
REIN Member
Nov 17, 2010
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Grande Prairie Ab
#1
Has anybody successfully completed a condo conversion ?

I have a 5 bay shop under contract that is already titled 5 separate condo but has been operating as a multi unit owned by one owner.

No condo reserve or fees ect

I know most of the heavy lifting is done.
Would love to talk to someone who has completed the process as I would like to sell some units out of it .

Cheers
 

Tina Myrvang

Client Care Lead
Staff member
REIN Member
Nov 15, 2010
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#2
Hello Tim,

We have a Condo Conversion Home Study in the store for each province. Click HERE to order.
 
Last edited:

ThomasBeyer

Senior Forum Member
REIN Member
#3
Fell free to msg me

Consider legal issues, strata seed issues, financial ie mortgaging (ie partial discharge) issues and sales process / timelines.

All doable but if financing too expensive, sales process to slow or condo reserve fund seeding too high it will fail or be unprofitable.


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ChrisDavies

Frequent Forum Member
REIN Member
Feb 18, 2008
1,276
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Edmonton
#4
Has anybody successfully completed a condo conversion ?

I have a 5 bay shop under contract that is already titled 5 separate condo but has been operating as a multi unit owned by one owner.

No condo reserve or fees ect

I know most of the heavy lifting is done.
Would love to talk to someone who has completed the process as I would like to sell some units out of it .

Cheers
There's some folks in my office who have - industrial condos are a great conversion but you've gotta be cautious with pricing, consider the amount of yard space and how you'll handle common expenses. There should be fees.