That condo fee disclosure trick saved me at a showing yesterday

I was checking out a 2-bedroom near Whyte Ave and the seller's agent tried to brush past the reserve fund study (you know, the boring part). I asked to see it anyway and found out they've been underfunding it by about $40k for the last 3 years. Has anyone else had a listing agent get weird when you dig into the financials?

2 comments

2 Comments

the_william19d ago

That $40k gap would make a nice surprise for the new owners.

robin_wright19d ago

Kinda feels like you're overthinking this one tbh lol. A $40k deficit over 3 years sounds bad but that's like $13k a year on a building that probably has a couple dozen units at least. Split that per door and you're looking at maybe a couple hundred bucks extra per year per owner, not exactly a dealbreaker. Plus the board could just vote in a special assessment later to cover it, no big deal really.