A document issued by the strata corporation that confirms the monthly strata fees, the amount in the contingency reserve fund, and any outstanding lawsuits or levies.
Why do we need it?
Crucial for condos. Lenders need to know the exact strata fee (as it affects your qualification) and ensure the building is financially healthy.
Key Requirements
Must be current (usually within 30-60 days).
Must include the current budget and financial statements.
Must confirm the parking stall and storage locker numbers.
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