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Here is a list of some of the common Condo documents you may find yourself reading:Registered Condominium PlanCondo Corporation Bylaws
Financial Statements of the Condominium Corporation
Director's Meeting Minutes
Insurance Certificate ( Policy)
Common Property Lease Agreements
Other Agreements (Management, Recreational)
Owner Occupancy Report
Outstanding Litigation (Court Orders, Legal Action)
Well the close of 2008 and dawn of 2009 will bring quite a different picture to Condo sales. The paragraphs below just don't seem as accurate anymore.
Just like all other Calgary housing, the Condo market is vibrant.
From the Royal Lepage First Time Homebuyer's Report 2005
First-time buyers will increasingly favour condominiums with the rate of condo purchases projected to double among this group in the next three years, according to a report released today by Royal LePage Real Estate Services. Of those who bought their first property in the past five years, 10 per cent bought condominiums, while 21 per cent of potential buyers* intend to purchase one. .....
....Location remains a prime concern for first-time buyers in Calgary, but with property prices experiencing strong increases in popular areas such as Calgary’s core, many first-time buyers have to look to condominiums in these areas as an affordable option. Many entry-level purchasers are taking advantage of zero down mortgages to purchase their first home if they are eligible.
Purchasing a Condominium
If you are contemplating getting into the Condo market, it is worth your while to get familiar with the Alberta Condominium Property Act. The Alberta Government website publishes it here There also is a buying and owning a condominium guide, find it here
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