CONDO STATUS CERTIFICATE: EVERYTHING YOU NEED TO KNOW!
CONDO STATUS CERTIFICATE : EVERYTHING YOU NEED TO KNOW! Condo Status Certificate. You might have heard the term before, but do you really have a good understanding of what it is? A condo status certificate is actually a very important document to learn about and refer to when in the process of buying a condo, so I have included for you the answers to some questions you may have. What is a Condo Status Certificate? The condo status certificate is a document that provides an important snapshot by the condo corporation to buyers of resale condos. Things that you should expect to see in a condo status certificate: Information explaining if the current unit owner is in default of paying the monthly common expenses Information regarding an increase in the common expenses by the condominium board The amount of money in the reserve fund Things that you should expect, by law, to see in a condo status certificate: Information regarding the common expenses for the uni