What to Review Before Buying a Sardis East Vedder Condo
The finances, physical condition and rules of the strata corporation can be as important as the individual condo. Complete property-specific due diligence before removing purchase conditions.
Strata Finances
Review the operating budget, financial statements, contingency reserve funding, depreciation-report information and any current or proposed special levies.
Meeting Minutes
Review recent council and general-meeting minutes for discussions involving maintenance, repairs, insurance, owner concerns, legal matters and planned building work.
Building Condition
Depending on the property, buyers may need to consider roofs, plumbing, windows, balconies, elevators, parkades, exterior maintenance and previous building projects.
Strata Insurance
Examine the strata corporation’s insurance coverage and deductibles. Buyers should also obtain suitable personal condo insurance and understand possible deductible-assessment exposure.
Rental, Pet and Occupancy Rules
Confirm the current registered bylaws affecting rentals, pets, smoking, renovations and use of common property. Do not rely only on an older listing description.
Property-Specific Details
Review the condo’s physical condition, alterations, included fixtures, parking, storage and any concerns specific to the unit before the purchase becomes firm.
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