Buying a Condo in Calgary "101"

[Condo Guy]

Don't believe you need a condo inspector, the main thing is to obtain the necessary docs and review them prior to purchase. See the following:
*Reserve Fund Study
*Reserve Plan
*Latest financials - determine Reserve Fund balance
*AGM minutes
*Board meeting minutes
*Condominium Bylaws

Condominium living is great if you have a competent and functional board of directors.

If you should need further info you can PM me.

CG

[JordanAndrew]

*Reserve Fund Study
*Reserve Plan
*Latest financials - determine Reserve Fund balance
*AGM minutes
*Board meeting minutes
*Condominium Bylaws


While I already know what is needed, I have no clue how to analyze these documents properly. What do you look for in a reserve fund study? how do you know if the reserve plan is good enough or if there's stuff missing? How many minutes are good for these "Board meetings"? So on and so fort.

i can probably google these things right now, however, I want to be more specific in the Calgary area. I also want to be able to talk to locals who can give me good advice in the local Condo market in Calgary if that even makes sense.

[barmanjay]

Originally posted by JordanAndrew
*Reserve Fund Study
*Reserve Plan
*Latest financials - determine Reserve Fund balance
*AGM minutes
*Board meeting minutes
*Condominium Bylaws


While I already know what is needed, I have no clue how to analyze these documents properly. What do you look for in a reserve fund study? how do you know if the reserve plan is good enough or if there's stuff missing? How many minutes are good for these "Board meetings"? So on and so fort.

i can probably google these things right now, however, I want to be more specific in the Calgary area. I also want to be able to talk to locals who can give me good advice in the local Condo market in Calgary if that even makes sense.

....... and a good condo doc review company will go through with you and explain everything in laymans terms.

Also a good idea to have a property inspector check out your unit as well as examine the rest of the building

[ExtraSlow]

Yeah, an inspection is perhaps MORE important in a condo then in a regular house. Especially if the reserve fund is small.

[Lagerstatten.ca]

Thanks for the info guys!