By: Brit McDonald

What is a Status Certificate?

Tags: Toronto Real Estate, Sellers, Real Estate, Buyers, Status Certificate, Condos, Condo Market, Condo, Toronto, Etobicoke, Mimico, Brit McDonald, Royal LePage

A Status Certificate shows the ins and outs of the condo corporation of the condo building, specifically all the financials, the engineers report, rules/bylaws, the reserve fund, lawsuits, projects due and upcoming and anything else that could potentially affect the condo and it's residents.

It's important to understand the health of the building that you are purchasing a unit in, are currently living in or are looking to sell a unit out of.

You are not just buying a unit, you're buying into the building and it will have an affect on your resale value.