Explore a fictional condominium document review and see how financial information, reserve-fund concerns, bylaws, insurance risks and meeting-minute findings are organized into a concise 10-page Buyer Summary and an in-depth 20-page Detailed Review.
Unit 407, 11825 Jasper Ridge Drive
Edmonton, Alberta
Several financial and building-related matters should be clarified before the buyer removes conditions.
The Buyer Summary gives you the decision-ready highlights first. The Detailed Review explains the supporting findings section by section.
A quick-read overview of the Clearwise score, overall risk, financial and reserve-fund snapshots, special-assessment or shortfall outlook, priority concerns and recommended follow-ups.
A section-by-section explanation of positive findings, concerns, document limitations, why each item matters and the questions or records worth pursuing before conditions are removed.
Both PDFs are fictional demonstration samples. Every completed Clearwise order includes both professionally formatted reports at no extra fee.
Select a category to preview the section-by-section detail included in the 20-page report. Your completed order also includes the concise 10-page Buyer Summary.
A high-level overview of the most important findings identified throughout the document package.
The condominium corporation appears operationally stable, but several financial and building-related concerns should be clarified before the buyer removes conditions. The most significant concern is the potential funding shortfall for a proposed exterior-envelope rehabilitation project.
Proposed exterior-envelope repairs are currently estimated at $1.35 million and may exceed available reserve funding.
Owners may face significant financial exposure when damage originates from their unit.
Outstanding condominium fees increased from $38,400 to $61,700 during the latest reporting period.
The current approved operating budget was included and appears complete.
The reserve fund study was completed within the required review period.
The final financial impact of an outstanding contractor claim has not been confirmed.
Review of the operating budget, audited financial statements, owner arrears and year-over-year financial trends.
| Expense Category | Budget | Actual | Variance |
|---|---|---|---|
| Insurance | $189,000 | $223,800 | +$34,800 |
| Utilities | $142,000 | $150,600 | +$8,600 |
| Repairs and Maintenance | $96,000 | $117,400 | +$21,400 |
| Professional Fees | $34,000 | $41,200 | +$7,200 |
| Administration | $86,000 | $82,500 | -$3,500 |
Owner arrears increased materially during the latest reporting period. The buyer should ask whether the balance is concentrated among a small number of owners, whether liens have been registered and whether any amounts are considered unlikely to be collected.
Comparison of projected reserve balances, planned capital spending and major upcoming repair obligations.
The project estimate appears likely to exceed the amount available for discretionary reserve spending once other scheduled projects are considered.
Proposed for 2028–2029
Design and tendering anticipated in 2027
Concrete and membrane repairs
Planned for 2031
The current documents do not confirm how the proposed exterior project will be funded.
Costs may change after engineering, tendering and final board approval.
Monthly condominium fees may need to increase to maintain adequate long-term funding.
Summary of the corporation’s current insurance coverage, deductibles and potential owner exposure.
This deductible may be charged back to an owner when a loss originates from their unit, depending on the bylaws and circumstances of the loss.
Provide the condominium insurance certificate and bylaws to the buyer’s insurance broker. Confirm that the buyer’s unit policy includes sufficient loss-assessment coverage, deductible assessment coverage, sewer-backup protection and coverage for unit improvements.
Important themes and unresolved matters identified in board and annual general meeting minutes.
The board approved additional destructive testing after moisture was identified behind portions of the exterior cladding.
Legal counsel continues to review a payment dispute involving a former mechanical contractor. No final liability amount has been recorded.
The board reviewed three water-loss incidents and discussed stronger enforcement of owner maintenance obligations.
The elevator consultant recommended modernization within two to four years due to increasing service interruptions and parts availability.
The board reviewed a complaint involving inconsistent parking-stall records and directed management to verify assignments.
Plain-language summary of restrictions that may affect how the unit can be occupied, renovated, rented or used.
A maximum of two domestic pets is permitted. Certain size restrictions apply, and written board approval is required before a pet occupies the unit.
Rentals shorter than 90 days are prohibited. Owners must provide tenancy details and a signed tenant undertaking to management.
Flooring, plumbing, electrical, structural and exterior-facing alterations require prior written approval from the corporation.
The purchase contract identifies stall 114, while the corporation’s parking schedule appears to identify stall 141. This discrepancy should be resolved in writing.
The bylaws allow the corporation to charge certain deductibles and repair costs to an owner when permitted by applicable legislation and the circumstances of the loss.
Questions and documents the buyer should consider requesting before removing conditions.
Ask for the most recent engineering report, cost estimate, board decision and proposed funding plan.
Obtain written confirmation of whether any special assessment has been approved, proposed or formally discussed.
Ask management for an updated arrears total and whether any significant balances may be difficult to collect.
Confirm the legally assigned or exclusive-use parking stall in writing before closing.
Confirm adequate personal coverage for deductible assessments, loss assessments and unit improvements.
Discuss legal, financial, insurance, engineering or property-condition concerns with the relevant licensed professional.
View the complete fictional sample report directly within the page.
Clearwise Reports turns a large condominium document package into two structured reports that help buyers understand what deserves their attention and why it matters.
Financial, insurance, reserve-fund, meeting-minute and bylaw concerns are clearly separated and summarized.
Complex documents are translated into organized summaries that are easier for buyers to understand and discuss.
The report provides a practical checklist of questions and items the buyer may wish to clarify before removing conditions.
This sample contains fictional names, addresses, condominium corporations, financial figures and findings. It is provided only to demonstrate the general format and potential content of a Clearwise Report. Clearwise Reports provides informational condominium document reviews and does not provide legal, engineering, accounting, insurance, appraisal or real-estate advice.
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