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Difference between revisions of "Buying a Condominium"
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→What should you consider before making an offer to buy a condo?
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:If a depreciation report has not been obtained, take especial care in evaluating the condition of the property as a whole. | :If a depreciation report has not been obtained, take especial care in evaluating the condition of the property as a whole. | ||
'''C. Title to the strata lot'''—This document will list any covenants, easements and other encumbrances on title. With your lawyer review the documents registered against title, and confirm that there are no registered documents which are a problem, or which affect the value or usability of the strata lot. | :'''C. Title to the strata lot'''—This document will list any covenants, easements and other encumbrances on title. With your lawyer review the documents registered against title, and confirm that there are no registered documents which are a problem, or which affect the value or usability of the strata lot. | ||
:'''D. The Strata Plan''' which shows the boundaries of the strata lot you are thinking of purchasing. The Strata Plan, or associated schedules will show the unit entitlement which determines the strata lot’s proportionate share of contributions, and the schedule of voting rights which will show the voting rights for the strata corporation. Compare your obligations to those of other strata lots to ensure that they are as expected. | :'''D. The Strata Plan''' which shows the boundaries of the strata lot you are thinking of purchasing. The Strata Plan, or associated schedules will show the unit entitlement which determines the strata lot’s proportionate share of contributions, and the schedule of voting rights which will show the voting rights for the strata corporation. Compare your obligations to those of other strata lots to ensure that they are as expected. | ||