Hi Mathew; It really depends specifically on the unit. In Ontario - and I realize you are based on Alberta - condo corporations hold capital insurance. Capital insurance has two components - liability and fire insurance coverage that restores the unit to its ORIGINAL state with...

Bill 140 is going to kill new rental construction, in Ontario, shortly.

In Ontario, there have actually been many, many cases due to misuse of Disclosure statement. Representing buyers, we always ask for it. Representing sellers, we never ask them to fill out. Mike

Gary and Adam are correct. This has the potential to be mortgage fraud. All components in the real estate transaction must be disclosed to bank and lawyer. If bank is happy with you receiving cash back - and this has been disclosed, that is awesome. Otherwise, if you haven't disclosed...

It really depends on the environment and your risk tolerance level. In Waterloo, the City shuts down illegal units/rooms/properties etc. In Kitchener, the City's fire department will generally bless extra units - provided they meet fire code. As such, the answer really depends on both...

Hi Kris; Ask the utility company for a "final meter read" on the date of completion. Any bills racked up prior to the date of completion will the previous owner's responsibility. Mike