Free Alberta Condo Buyer Tool

Alberta Condo Buyer Checklist

Track the documents and risk areas that should be reviewed before you remove your condominium-document condition.

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CLEARWISE REPORTS

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70% 7 of 10 complete

✓

Reserve fund study Received and reviewed

✓

Financial statements Received and reviewed

✓

Meeting minutes Received and reviewed

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$ Financial documents

Recent financial statements Review operating results, reserve balances, owner arrears, liabilities and cash position. Current operating budget Check whether expected expenses, income and reserve contributions appear realistic. Condo fee and assessment history Understand recent fee increases, special levies and whether costs have kept pace.

R Reserve planning

Current reserve fund study Review planned repairs, timing, estimated costs and recommended contributions. Contribution schedule Compare actual reserve contributions with the study recommendations. Major planned projects Confirm upcoming repairs and whether a clear funding source has been identified.

M Governance and management

Board and AGM meeting minutes Look for repairs, disputes, water losses, claims, litigation and assessment discussions. Management and legal correspondence Identify unresolved deficiencies, disputes, claims or major property concerns. Known litigation or owner disputes Clarify ongoing legal matters and possible financial or governance consequences.

I Insurance, bylaws and property details

Insurance certificate and claims information Review coverage, deductibles, exclusions, losses and owner insurance responsibilities. Bylaws and rules Confirm restrictions involving pets, rentals, parking, renovations and use of the unit. Condo plan, parking and unit factors Confirm unit boundaries, parking, storage rights and expense allocation.

✓

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Receiving a document is not the same as fully understanding it. Important concerns may appear across several records or be described indirectly.

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Why the Full Package Matters

Important risks are rarely contained in one document.

A complete review connects the corporation's finances, reserve plan, meeting discussions, insurance history, bylaws and major repair obligations.

Documents provide context

A reserve balance may look large until it is compared with the cost and timing of future repairs.

Minutes reveal discussions

Meeting minutes may identify concerns that are not obvious from the financial statements alone.

Missing records matter

Missing or outdated documents may limit your ability to understand the corporation's current position.

Have the documents, but not the time to review everything?

Clearwise Reports organizes the available condominium records into a structured report covering financial health, reserve planning, governance, insurance and major concerns.

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This checklist provides general educational information only and may not include every document or issue relevant to a particular condominium purchase. It is not legal, engineering, accounting, insurance, appraisal or investment advice.

Clearwise Reports helps condominium buyers understand complex property documents through clear, professionally organized informational reports.

Helping buyers make informed decisions—not making decisions for them.

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Clearwise Reports provides informational condominium document reviews and does not provide legal, accounting, engineering, real estate or financial advice. Customers should consult the appropriate qualified professionals before making a purchasing decision.