If you’re an owner of a condominium, you may sometimes be in for a surprise that can be costly and frustrating. It’s two dreaded words that any condo owners hope to never hear. A special assessment. A special assessment is an additional fee that is levied by a condominium association on top of regular condominium… Continue reading Got a special assessment on your condo? Here’s what you need to know
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Tag: condo
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Status Certificate. What is it and Why Should You Care.
If you are buying a condo, you will probably encounter the term “status certificate”. What exactly is a status certificate and why are status certificates important? Think of a status certificate as a comprehensive document that provides information about the current state of a condominium property. The purpose of it is to give potential buyers… Continue reading Status Certificate. What is it and Why Should You Care.
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Interim Occupancy – What is it and What You Need To Know
When you buy a pre-construction condo, it may take a few years before the building is ready and you get to move in. When it’s time to move in, you might be surprised to learn that you still might not actually own your condo unit (or at least not just yet). The period between the… Continue reading Interim Occupancy – What is it and What You Need To Know
