Home
Just
who are we anyway?
The advantages of
buying a condo
What to expect from
your lawyer.
Your realtor's role.
Bylaws and Rules
Is
it a Condominium or a Strata?
Vancouver Island Strata Owners'
Association
These Topics Coming Soon
Talk to the
owners.
What to ask the
Strata Council.
Looking at the minutes.
Budgets - why they are so
important.
Buying from a Developer
Building Inspectors
| | What to expect from your lawyer or notary | Your lawyer's role is primarily to make certain that you obtain clear title to the property that you are purchasing. The
conveyancing clerk in the lawyer's office will process all the
purchase documents and make certain that your title to the property is properly registered in the land titles office. If you require a
mortgage to purchase the property your notary or lawyer will also work
with your bank or other lending agency to make certain the mortgage is
properly drawn up.
A
condominium or strata lot is the same as any other property and your
lawyer will make certain that all the above measures are taken to
protect you and your investment.
However lawyers will not
normally review a strata corporation's or condominium's bylaws, rules, minutes or
financial statements to make certain that there are no factors in
these documents that will affect you adversely. Unless you pay your
lawyer to review all these documents you will need to evaluate these
records yourself and make sure you understand them clearly.
For example;
- Do the bylaws permit you to have your pet in your new home?
- Perhaps you intend to rent your condominium to earn income - does the strata corporation permit rentals?
- If you have children (or expect to have a family) are children permitted in this complex?
- Do the rules permit you to park your recreational vehicle on the common property?
Make sure you understand what your lawyer will and will not do as part of their service.
|
|
