Calgary Condo Document Review FAQ

Buying or selling a condo comes with a lot of paperwork, and it is normal to have questions. This Calgary condo document review FAQ provides simple, clear answers to help you understand the process, the documents, and what they mean for your decision.

What is a condo document review?

A condo document review is a detailed look at the financial, legal, and operational records of the condominium corporation. It helps you understand how well the building is managed and whether any risks or upcoming expenses could affect you.

Why is a condo document review important?

Condo documents show the health of the building. They reveal if repairs are coming, if the reserve fund is strong, and whether any issues were discussed at board or owner meetings. A review helps you avoid expensive surprises later.

What documents are included in a condo review?

While each property may provide a different set, these are the most common documents:

• Reserve Fund Study
• Budget and Financial Statements
• Meeting Minutes (AGM and board)
• Bylaws and Rules
• Insurance Certificate
• Estoppel Certificate (Form B)

How condo document review works.

When completing a condo document review, we look at:

• How much money is in the reserve fund
• Whether upcoming repairs are planned and funded
• Any special assessments mentioned in meetings
• How the condo board manages the building
• Rules related to pets, parking, noise, and rentals
• Overall long-term health of the condo corporation

How long does the review take?

Most reviews take 1–2 business days, depending on how many documents the seller provides. We aim to return reports quickly so you have enough time before removing conditions.

How will the report be delivered?

You receive a clear, easy-to-read written report that highlights important details, risks, and things to watch. We keep explanations simple so you don’t need any background knowledge.

Will you help me understand the report?

Yes. If you have questions, we go through the report with you or your REALTOR®. Our goal is to make sure the information is easy to understand and gives you confidence in your next step.

Do sellers need to worry about the review?

Sellers benefit from having clean, complete documents ready for buyers. Missing or outdated documents can slow down offers or create uncertainty for buyers.

What if documents are missing?

If key documents are missing, we note it in the report. Missing information can affect negotiations or raise questions that buyers will want answered before moving forward.

Can a bad document review stop a deal?

Yes. If major issues are found—such as low reserve funds, unfunded repairs, or repeated major concerns in the minutes—a buyer may choose to renegotiate or walk away.

Are all condo buildings the same?

No. Every condo corporation operates differently. Some have strong budgets and great planning. Others may have risks that could become costly later. A review helps you see the difference.

Where can I learn more?

You can read more about our process on the Condo Document Review Services page.

To see what other people say about working with us, visit our CondoMax Reviews page.

If you still have questions, feel free to contact us anytime.