The condo Status Certificate give the buyer a snapshot of how well your condo corporation is being run.
It tells us how much money is in the reserve fund, if there are any special assessments contemplated or pending and it includes copies of the building financial statements, budget and the rules and regulations governing the owners and tenants living there.
EVERY condo buyer will want to get a copy of a current Status Certificate (less than 30-60 days old) and have their lawyer review it to make sure they’re making a wise purchase.
Normally a buyer’s offer will be 'Conditional upon a satisfactory review of the Status Certificate’. Often today, when multiple offers are more commonplace, we want to take any resistance away from buyers bidding on your suite and hopefully giving us a firm offer without conditions.
The best way to do this is to have the Status Certificate already in hand and ready to pass on to the buyer agent and buyer to review before submitting their offer.
The Province of Ontario has mandated that every condo corporation has up to 10 calendar days to deliver the Status Certificate once they’ve received payment for it. So, in order to have it ready when we put your home on MLS, you need to order that directly from your condo's management office or online from companies like StatusCertificate.com, CondoControlCentral.com or CondoCafe.com and time it to arrive just as we are starting showings.
The online method is usually faster but costs a bit more… either way the charge is typically between $100 and $150 and it comes to you as a very convenient set of PDF files.
However not every condominium corporation has signed up for this online service so some research will need to be done to see if yours is available from any one of the online sources.
Once you’ve received the download instructions from the online companies or received the thick package of paper documents from your condo management office, send those off immediately to your Realtor.
They’ll make them available to any buyer agents who inquire about your suite.
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If you are going to sell your suite in the next 1 to 9 months, what you do right now can make a difference of thousands of dollars in your sale price, and there are some simple things you can do forthwith to make sure you get "Top-Dollar" when you do sell.
HERE ARE 3 FREE SERVICES YOU MAY WANT TO TAKE ADVANTAGE OF RIGHT NOW
First, is our FREE "Pin-Point Price" Analysis, where I can take a closer in-person look at your condo and prepare a very specific price for your suite. This price will be much more precise than the general range that you can get automatically from the site - and we guarantee in writing to sell your condo at the "Pin-Point Price" or higher in less than 32-days.
Second, is our FREE "Room-By-Room Review", where I do a 20-minute walk-thru and make specific recommendations about which fix-ups or improvements you should (and should not) do to prepare your suite for sale. I will point out the lowest cost, highest return improvements you can make to help sell your condominium quickly and for more money.
Third, if you would like, I will include your condo in our "Silent Market" of condominiums that are not yet on the market. Because we generate so much buyer interest from our website, Facebook and Google advertising and other proactive marketing, we may be able to find a buyer for your condo without even putting it on the market… saving you both time and money.
These 3 services are FREE. The Room-By-Room Review takes about an 20 minutes, and we can arrange a time during the day or evening, whenever is most convenient for you.