Calgary Condo Document Review Checklist

Confirm the corporation and unit facts

Match the legal unit, parking and storage information to the offer and title. Determine whether stalls or lockers are titled, leased, assigned or common property. Read bylaws for occupancy, pets, renovations, rentals, smoking, parking and move procedures.

Read the financial picture together

A reserve balance alone is not enough. Compare the reserve-fund study, planned projects, annual budget, financial statements, contributions, arrears and recent spending. Look for major work that is identified but not fully funded.

• Current budget and recent audited or reviewed financial statements.
• Reserve-fund study, plan and contribution schedule.
• Special assessments approved, proposed, discussed or recently completed.
• Insurance policy, deductibles and any loss history made available.
• Owner arrears, litigation and significant contractual commitments.

Use minutes to find the story behind the numbers

Board and owner-meeting minutes can show recurring leaks, envelope concerns, elevator problems, security issues, disputes or projects not yet visible in a formal budget. Read across multiple meetings and compare statements with engineering or maintenance reports.

Translate findings into a purchase decision

Classify each issue by possible cost, timing and uncertainty. Ask who pays if an assessment is levied before or after possession, whether the lender or insurer has concerns and whether the contract adequately addresses outstanding amounts. Get the advice before the review condition expires.