Selling condos whether is be conventional or bare land is very different than selling a single family home. One on the conditions that we as realtors see on the Offer to Purchase when negotiating an Offer is "Subject to the approval of condo documents on or before a specific date". There is usually a financing condition too.

The Calgary Real Estate Board provides it's members (realtors) with a detailed list of documents required by the vendor to be provided to the buyer. Most sellers do not have a complete set of documents and the documents that they do have are not current. There are independent professionals that can be hired by the buyer to assist them in reviewng the documents and guiding the buyer to make an educated decision regarding the documents . One of the required documents outlines any law suits pending against the Condo Corporation. This is a very important document which indicates if anyone is suing the Condo Corporation. In a recent transaction I was involved in a letter was provided by the Condo Corporation indicating that there were no law suits pending . A very thorough condo document review company found out in fact that there was a law suit pending. Once this information was revealed were concerns from both sides; the buyer and the seller. The buyer was nervous about removing conditions and following through with the purchase and the vendor was concerned that the sale would not go through. Upon further investigating, it was found the suit against the condo Board was regarding the installation of a satellite dish from a tenant renting directly from one of the owners.

There is a lot of research that must be done to ensure that your purchase is a GREAT ONE. Remember, when you buy a condo you are not only buying the condo that you are going to live in but you are also buying into the building.

Whether buying or selling , call a professional. I have been selling and marketing real estate for twenty years and am available to assist with any of your needs or questions.

Marianne Bladon
403-803-8598
Remax Realty Professionals