When buying or selling a condo, there are certain important documents that need to be handled to ensure everything is in order. Here’s a simple guide on what condo documents are required, who requests them, where to get them, and what to expect in terms of costs and timelines.

1. What Condo Documents Are Needed?

The key documents you’ll need for a condo transaction include:

• Estoppel Certificate: A document that confirms the financial status of the condo unit, including any outstanding fees or assessments.
• Insurance Certificate: A document that shows the condo corporation’s insurance coverage.
• Condo Bylaws, Rules & Regulations: These outline how the condo is managed and what the rules are for owners.

2. Who Requests the Condo Documents?

• Seller: In most cases, the seller is responsible for providing the condo documents. If the documents are needed for a condition to be waived (like the buyer reviewing them), it’s the seller’s job to provide them.
• Seller’s Lawyer: The seller’s lawyer is the one who will typically request the Estoppel Certificate and Insurance Certificate on behalf of the seller.
• Buyer’s Lawyer: If there are conditions in the offer requiring the buyer to review condo documents, the buyer’s lawyer might request these documents.

3. Where to Get the Condo Documents?

• Condo Management Company: For condos that are professionally managed, you will get the documents from the condo management company.
• Condo Board: For self-managed condos, the condo board will handle the request for the required documents.

4. What Are the Costs to Obtain Condo Documents?

The costs for condo documents can vary based on the management company, but here are general estimates:

• Bylaws, Rules & Regulations: Typically, these documents cost between $300 to $700 for review.
• Estoppel Certificate: This usually costs between $200 to $400. Keep in mind, if the documents are needed urgently, Rush Charges may apply, which can increase the cost.

5. How Long Does It Take to Get Condo Documents?

• Condo Bylaws & Rules: You can usually expect to receive these documents within 3-5 business days.
• Estoppel Certificate & Insurance Certificate: These can take 5-7 business days to process. If you need them quickly, rush charges may apply, and they may be processed faster.

6. When Are Condo Documents Needed?

• If There Are Conditions in the Offer: If the buyer’s offer includes a condition (such as reviewing condo documents), the seller must provide the necessary documents for the buyer’s review, to waive the condition.
• If No Conditions Are Included: If there are no conditions in the offer, the seller is not required to provide the condo documents for review. However, the Estoppel Certificate and Insurance Certificate are still needed, and the seller’s lawyer will typically order these on their behalf.

7. What If You Have More Questions?

If you need further clarification or have questions about condo documents, don’t hesitate to contact Edmonton Law Office for Alberta and Passgo Law for B.C. and Ontario. Both firms can provide detailed help based on your situation.

This guide helps you navigate the condo document process and ensures you know what to expect during the buying or selling process. Whether you’re the buyer or the seller, understanding these steps can help things move smoothly.