Condo document review checklist for Calgary buyers

1. Request the full package

Act s.44 · Regulation s.20.52 and s.20.53

• Your offer has a condo document conditionThe condition lists the documents to be delivered and sets a deadline that leaves reading days after they arrive. Once it is removed, you are committed to the purchase.
• Request sent in writing to the condo managerOr to the board if the building is self-managed. A buyer, the buyer's lawyer, or someone the buyer authorizes in writing can ask. The corporation has 10 days to respond and sends electronic copies unless you ask for paper (Act s.44).
• Fees checked against the capsEstoppel certificate up to $200. Information statement up to $100. Any other document $10, or $0.25 a page for a paper copy over 40 pages. Delivery within 3 days can add up to $100, $50, or $20 (Regulation s.20.53). A document company at arm's length from the corporation and the manager can charge its own reasonable fee, but the corporation must still offer another way to get the documents.
• Package checked for gapsUse sections 2 to 9 below as the inventory. Documents created before January 1, 2020 only have to be provided if the corporation has them (Regulation s.20.52(2)). Ask for anything missing in writing, the same day you notice.

Re: Unit [unit number], [building name], Condominium Plan [plan number]

I am purchasing the unit above. Under section 44 of the Condominium Property Act and section 20.52 of the Condominium Property Regulation, please provide the following within 10 days, electronically:

1. An estoppel certificate under section 43.2 of the Act
2. The information statement under section 20.52(1)(a)
3. The current budget and the annual financial statements for the last two fiscal years
4. The bylaws and a consolidation of the rules
5. Approved minutes of all general meetings and board meetings for the last two fiscal years, and draft minutes of any general meeting held more than 30 days ago that are not yet approved
6. The text and results of written ordinary and special resolutions
7. All reserve fund reports, the current reserve fund plan, and the annual reserve fund reports
8. Professional and engineering reports prepared for the corporation
9. Insurance certificates and policies, and the current standard insurable unit description
10. The management agreement, any recreational agreement, and any lease or exclusive possession agreement for the parking stall or storage unit assigned to this unit
11. Particulars of any post-tensioned cables on the property

Please send the invoice with the documents.

[Your name]
[Phone and email]

2. Estoppel certificate

Act s.43.2

• Monthly contribution matches the listingThe certificate states the contribution and how often it is paid. If it is higher than the listing said, find out when the increase took effect and why.
• No arrears or interest owing on the unitAnything owing should be paid out of the seller's proceeds on closing. Your lawyer handles the payout; you confirm it is there.
• Certificate is dated close to closingIt is conclusive proof of what it states only as of its own date (s.43.2(2)). Your lawyer can order a fresh one near possession.

3. Information statement

Regulation s.20.52(1)(a)

• Lawsuits, judgments, and demandsThe statement lists actions served on the corporation with the amounts claimed, unpaid judgments, and written demands over $5,000.a claim large enough that losing it would take a levy to pay.
• Reserve fund balance written downYou will compare this number to the reserve fund plan in section 5.
• Contribution basis and your unit factorThe statement shows how fees are set and the unit factors. Unit factors across the plan add up to 10,000 (Regulation s.6). Fees and special levies are split by unit factor unless the bylaws set another basis (Act s.39 and s.39.1), so a unit factor of 85 usually means you pay 0.85% of every shared cost.
• Known structural deficienciesThe corporation must disclose any it knows about. If anything is listed, ask for the engineering report behind it and what the repair will cost.a deficiency with no repair plan and no money set aside.
• Loans the corporation carriesStarting and current balance, rate, monthly payment, purpose, amortization, and any default. Owners repay these through their fees for the life of the loan.
• Other plans of survey on the parcelEasements and other registered plans can affect access, parking, or future development next to the building.

4. Budget and financial statements

Regulation s.20.52(1)(e) and (f) · s.20.51

• Current budget read line by lineInsurance, utilities, and repairs should look realistic against last year's actual spending. Owners get the budget at least 30 days before the fiscal year starts (Regulation s.20.51), so if a new year is about to begin, ask for the new budget too.
• Two or three years of financial statementsLook for operating deficits, repairs paid out of operating that belonged in the reserve, and fees that jumped sharply in one year.repeated deficits covered by "transfers" or borrowing instead of a fee increase.
• Reserve contribution matches the planThe budget's transfer to the reserve fund should equal what the current reserve fund plan calls for this year. Lower means the board is underfunding to keep fees down.

5. Reserve fund report and plan

Act s.38 · Regulation s.20.52(1)(q), s.23, s.24, s.29, s.30

• Study and plan are currentA new corporation needs its first reserve fund study, report, and plan within 2 years of the condominium plan's registration (s.24), then a new study within 5 years of the last plan's approval (s.30).a plan more than 5 years old.
• Actual balance compared to the planFind this year's projected balance in the plan and compare it to the balance on the information statement. A gap that has grown year over year is the early sign of a levy.
• Repairs due in the next five years listedThe study inventories every component that needs repair or replacement over 30 years or more (s.23). Pull out the next five: roofing, windows and the building envelope, parkade membrane, elevators, boilers and make-up air, and in bare land complexes, roads and fences.
• Your levy exposure worked outIf a repair costs more than the reserve will hold when it is due, the difference is a likely levy.Shortfall × your unit factor ÷ 10,000 = your share. A $400,000 shortfall with a unit factor of 85 is $3,400.
• Annual reserve fund reports checkedEach year's report lists what went in and out of the reserve, what was repaired, and what is planned this year (s.29). Planned work that keeps sliding to next year is deferred maintenance.

The condo reserve fund explainer covers how the fund works.

6. Bylaws and rules

Regulation s.20.52(1)(g) and (k) · Act s.53

• PetsNumber, size, breed limits, and whether the board has to approve each pet.
• RentalsWhether you can rent at all, minimum lease terms, and whether short-term rentals are banned. Owners who rent must give the corporation written notice, and the corporation can require a damage deposit (Act s.53).
• RenovationsBoard approval steps, flooring sound ratings, and limits on plumbing or electrical changes. If you plan to replace carpet with hardwood or tile, find the sound rating the bylaws require before you price the job.
• Day-to-day limitsAge restrictions (55 plus buildings), smoking and cannabis, barbecues on balconies, EV charging, guest stays, and moving-day booking rules.
• Deductible chargeback bylawCheck whether the bylaws let the corporation collect an insurance deductible from an owner as a levy (Regulation s.62.4(5)). See section 8 for the limits.

7. Minutes and resolutions

Regulation s.20.52(1)(h) and (l) · s.20.5

• Board minutes for at least the last fiscal yearAsk for two. Search for: leak, water, envelope, engineer, levy, loan, lawsuit, insurance renewal, deductible, and manager. The minutes show what the board is worried about before it reaches the financial statements.the same repair raised meeting after meeting with no decision.
• AGM and other general meeting minutesIf the latest AGM minutes are not approved yet, the corporation must provide the drafts once the meeting is more than 30 days old (s.20.52(1)(h)). Owners' questions at the AGM are often the most candid record in the package.
• Written resolutions and vote resultsThe board approves special levies by resolution (Act s.39.1), so look for any levy in the board minutes along with its due dates. A levy for a capital improvement, and any bylaw change, needs a special resolution of the owners. If a levy is already approved, the purchase contract should say whether you or the seller pays it.

8. Insurance

Regulation s.20.52(1)(n), (o), and (p) · s.62.4 · s.62.5

• Policy period covers your possession dateIf the policy renews before you move in, ask the manager for the renewal quote. Premium jumps at renewal show up as fee increases.
• Every deductible written downWater damage, sewer backup, hail and wind, and all other perils often carry different deductibles. Note each one.
• Chargeback exposure understoodWhen damage starts in your unit or your exclusive-use area, the corporation can recover up to its deductible from you without proving negligence, capped at $50,000 (Regulation s.62.4). You are not liable for construction defects, the corporation's own acts, or normal deterioration of common property.
• Your unit policy quoted to matchGive your insurer the deductible list and the standard insurable unit description, which sets out what the corporation's policy covers inside your unit. Your policy covers the gap: upgrades, contents, liability, and deductible assessment coverage.
• Fidelity coverage in placeSince 2020, a corporation must insure against theft by a board member or manager for at least its reserve balance plus its operating balance at the start of the fiscal year (Regulation s.62.5).

9. Engineering reports, parking, and agreements

Regulation s.20.52(1)(b), (c), (d), (j), and (m)

• Professional and engineering reports readBuilding envelope, parkade, balcony, and roof assessments. Read the recommendations, then check the minutes for whether the board acted on them.an engineer's "repair within 12 months" from three years ago.
• Post-tensioned cablesMany concrete buildings use steel cables under tension inside the slabs. If they are present, drilling or coring the floor or ceiling for a renovation needs scanning first.
• Parking stall and storage unit confirmedFind out how the stall and locker in the listing attach to this unit: a separately titled unit, a lease, or an exclusive-use grant. A titled stall needs to be on the purchase contract and the transfer; an assigned stall needs the paperwork showing it stays with the unit.the stall in the listing is not in any document.
• Management and recreational agreementsWho the manager is, what the contract costs, how long it runs, and how either side can end it. A recreational agreement can commit owners to share costs of a facility outside the building.

10. Buying new from a developer

Act s.12.2 and s.13 · Regulation s.20.03 and s.20.04

• Your 10-day cancellation window notedYou can cancel in writing within 10 days of the later of signing and receiving every document the developer owes you under section 12. The developer must refund your money within 15 days (Act s.13).
• Proposed budget checkedIt must list projected expenses by category and a reasonable reserve contribution, and name who prepared it (Regulation s.20.03). If the first year's actual expenses run more than 15% over the projection, the developer pays the corporation the difference above 15% (s.20.04).a budget with almost nothing going to the reserve.
• First reserve fund study scheduledThe corporation needs one within 2 years of the condominium plan's registration (Regulation s.24). Until then, early fees are based on the developer's estimate.

11. Before you remove the condition

• Professional review back in writingYour real estate lawyer or a condo document review service has read the full package and sent you their findings. Ryan's read with you is a first pass; this review is the one to decide on. The fee usually shows up in your closing costs.
• Open questions answered in writingSend them to the manager through your REALTOR® and keep the replies with the documents.
• Unit insurance quote in handIf you have a mortgage, your lender wants proof of insurance before closing. The quote also confirms deductible coverage is available at a price you accept.
• Lawyer has the packageYour lawyer can order an updated estoppel certificate near closing and pays out any arrears or levy the seller owes from the sale proceeds.
• Extension requested if anything is lateAsk in writing before the deadline passes. If the deadline passes without the condition being satisfied or waived, the contract can end.

How Ryan handles the review

On every condo offer, Ryan writes the document list and the deadline into the condition, then reads the package with you. He works out the reserve fund gap and your unit factor share of the next big repair, pulls the lines from the minutes worth asking about, and sends your questions to the manager in writing.

Then he hands the package to your real estate lawyer or a condo document review service for a professional review. Ryan is a REALTOR®, so his read is a first pass to frame the questions; the lawyer or review service checks the documents in full and puts their findings in writing. You decide whether to remove the condition with that report and the numbers in front of you, and the condition deadline is written with enough days for both reads.

Buying a condo, villa, or townhome as part of a downsize? The downsizer's guide to condo documents covers what changes when the purchase has to work on a fixed income.