Condominiums are going up in cities all over the world at a rapid pace. For many people it will be their first home. Many buy without knowing what they are getting themselves into. In this book you will: <br>1. Explore whether condominium living is for you.<br>2. Come to understand the different types of condominiums.<br>3. Be introduced to various legal condominium documents.<br>4. Understand what you own if you buy a condominium.<br>5. Learn how a condominium is run, and the role of the Board.<br>6. Understand how and where maintenance fees are spent.<br>7. Explore your rights and responsibilities as an owner.<br>8. Narrow down which condominium is right for you.<br>9. Learn to protect your investment if buying a new condominium.<br>10.Know what to look for in a real estate agent.<br>11.Find out about other professionals who can help you.<br>12.Learn what a Reserve Fund Study is.<br>13.And much more.<br><br>Find out what you need to know before and after buying a Condominium or Townhouse by reading this book.
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Irfan Alli. Condominiums and Townhouses - What You Need to Know Before and After Buying
INTRODUCTION
CONDOMINIUMS ARE LEGAL ENTITIES
THE DIFFERENT TYPES OF CONDOMINIUMS
WHO OWNS WHAT?
WHO TAKES CARE OF WHAT?
BEWARE OF NEW CONDOMINIUMS
HOW A CONDOMINIUM IS RUN
YOUR RIGHTS AS AN OWNER
YOUR RESPONSIBILITIES AS AN OWNER
WHERE YOUR MAINTENANCE FEE GOES
IS CONDOMINIUM LIVING FOR YOU?
WHICH CONDOMINIUM TO BUY
WHEN YOU ARE READY TO BUY
AFTER THE DEAL IS CLOSED
INSURANCE AND YOU
THE LAW AND YOU
FINAL WORDS
PROVINCIAL WARRANTY PROGRAMS
USEFUL WEBSITES
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A few years ago a woman sat in my office in tears. The Condominium Corporation had a lien on her property and the bank was going to repossess. After the meeting what was most upsetting was no one had sat down with her before she bought the Condominium unit to explain what she was getting herself into and what her rights and responsibilities were.
Almost every day I speak to unit owners who don’t understand how Condominiums and Townhouses work. Yet they own one, and owe banks and mortgage companies hundreds of thousands of dollars. Many, on being educated on the process, come to regret buying a Condominium or buying into a specific Condominium Corporation/Complex.
