"A consumer-protection approach" is my motto when I help clients to shop for a condo home. While that's easy to say, it's a challenge to perform, and carries with it liability that I assume on behalf of home buyers. As a result, though, my clients feel secure that someone with extensive condo experience is looking out for them, has drafted their purchase contract to protect them, and will read the condo documents before their purchase is made final.
This is the level of real estate service and protection that every condominium home buyer needs and deserves. Some of the potential issues in a condominium home purchase need to be anticipated in advance if the buyer is to be protected against them. While perfect protection is not possible, I consider an array of possible issues before they arise, and draft offers to purchase to protect against those that are the most likely or of specific concern to my clients. If agreement to buy is reached, my goal is then to obtain all needed condo documents, even if the seller doesn't provide them, and to ferret out any issue that could haunt my clients as homeowners in coming years.
Most condo developments, of course, are well built, well financed and well led by their condominium boards. Yet some have issues that a future condo homeowner might not want to buy into, just as some houses will have structural, mechanical or drainage issues you might not want to face. And you shouldn't have to face them. Professional condominium-aware drafting of the purchase contract is your first line of defence. Your second is an experienced eye going over budgets, financial statements, board and general meeting minutes and engineering reports, and then summarizing what's been found.
My real estate broker hates that I assist buying clients with review of their condominium documents before finalizing their purchases. I've been warned of the liability that I incur. But my background includes 10 years of civic government experience (Alderman, Mayor, etc), as well as 10 years of advocacy work in the office of a Member of Parliament. More recently I've spent a decade chairing a condominium Board, and have read many sets of condo documents, as well as taking every course offered by the Canadian Condominium Institute. I also own six condo apartments, renting out five of them.
In all, I'm confident in offering a "consumer-protection approach" to buying a condominium home. If you want that level of care and diligence on your behalf when you shop for your home and investment, give me a call. And pardon me for blowing my own horn. Unless you know one of my satisfied home-owning clients, you might not be aware that a consumer-protection approach is even available to condo buyers. But you deserve nothing less.
Calgary Condominium Directory
