who do we get condo report from?

[kenko]

Does anyone know who do we can the condo report from? from realtor? How much is the fee for condo report usually? What should I becareful with for those "converted condo"? (meaning it is older apartment converted to condo)

 

[AndreiAngelkovski]

Usually you order the condo status report/certificate from the property manager of the building. I then usually give it to my lawyer to review and discuss it with me.

The fee is approximately $100 from my experience and is usually paid for by the seller (I put that in the agreement)

 

[mcgregok]

In Alberta you must get the Reserve fund study. This report will tell you what repairs/maintenance will be done and when. This usually comes with the package containing the condo buylaws supplied by the owner ( a condition in the purchase agreement). Some items for your watch list are the mechanical systems and elevators. Some conversions do not repair or update. This can cause problems later on and result in a cash call from the BOARD TO REPLACE THEM. You can have you condo documents reviewed and have the reserve fund study checked to make sure there is enough funds in the fund to manage the repairs required for the present and that the condo fees are enough to cover future maintence. If not you could be looking at a monthly fee increase.