If you are selling a property, the buyer may make an offer subject to reviewing “Condo Documents”. The Condo Documents requested for review are listed in the Residential Purchase and Sale Contract. They include a copy of the Condo Bylaws, the Reserve Fund Study, financial statements, and minutes of Condo Board Meetings. The Condo Documents are ordered from the Property Management Company. You are responsible for ordering the Condo Documents from the Property Management Company and providing the Condo Documents to the Buyer within the condition period. There will be a fee payable to the Property Management Company for the Condo Documents. Your Realtor may assist you with this process. Under the standard Residential Purchase and Sale contract, the seller is required to provide the buyer with an Estoppel Certificate on closing.
Usually, the seller’s lawyer is responsible for ordering the Estoppel Certificate. Where we are assisting with your property sale, our office will request the Estoppel Certificate from the property management company, and it must be provided to our office within 10 days of making the request. There is a fee payable for the Estoppel Certificate and this fee is not included in our Flat Legal Fee.)
