Important findings identified
Financial, insurance, reserve-fund, meeting-minute and bylaw concerns are clearly separated and summarized.
Interactive Sample Report
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Explore a fictional condominium document review and see how financial information, reserve-fund concerns, bylaws, insurance risks and meeting-minute findings are organized into one clear, professional report.
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Plain-Language Summary
Clearwise Reports
Condominium Document Review
Buyer Review Report
Unit 407, 11825 Jasper Ridge Drive
Edmonton, Alberta
18
Documents
7
Concerns
6
Follow-Ups
Overall Assessment
Review Carefully
Several financial and building-related matters should be clarified before the buyer removes conditions.
Sample Buyer Report
Explore the findings section by section.
Select a report category to see the type of information your completed Clearwise Report may include.
Section 01
Executive Summary
A high-level overview of the most important findings identified throughout the document package.
Overall Assessment: Review Carefully
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.
6.8
Documents Reviewed
18
Key Concerns
7
Positive Findings
5
Buyer Follow-Ups
6
Highest-Priority Findings
!
Potential special assessment
Proposed exterior-envelope repairs are currently estimated at $1.35 million and may exceed available reserve funding.
!
$100,000 water-loss deductible
Owners may face significant financial exposure when damage originates from their unit.
!
Increasing owner arrears
Outstanding condominium fees increased from $38,400 to $61,700 during the latest reporting period.
Report Status
✓
Operating budget provided
The current approved operating budget was included and appears complete.
✓
Reserve fund study current
The reserve fund study was completed within the required review period.
?
Contractor dispute unresolved
The final financial impact of an outstanding contractor claim has not been confirmed.
Section 02
Financial Health
Review of the operating budget, audited financial statements, owner arrears and year-over-year financial trends.
Operating Surplus
$42,800
Reported annual operating surplus
Increasing
$61,700
Outstanding condominium fees
Above Budget
18.4%
Insurance expense increase
Operating Expense Comparison
| 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 |
Clearwise Observation
Arrears should be clarified
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.
Section 03
Reserve Fund Analysis
Comparison of projected reserve balances, planned capital spending and major upcoming repair obligations.
Projected Reserve Balance
Funding Concern
$1.35M
Preliminary exterior-envelope project estimate
The project estimate appears likely to exceed the amount available for discretionary reserve spending once other scheduled projects are considered.
Upcoming Capital Projects
Exterior-envelope rehabilitation
Proposed for 2028–2029
$1.35M
Elevator modernization
Design and tendering anticipated in 2027
$380K
Underground parkade repairs
Concrete and membrane repairs
$240K
Roof replacement
Planned for 2031
$310K
Potential Buyer Exposure
!
Special assessment is possible
The current documents do not confirm how the proposed exterior project will be funded.
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Project scope remains preliminary
Costs may change after engineering, tendering and final board approval.
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Contribution increases may be required
Monthly condominium fees may need to increase to maintain adequate long-term funding.
Section 04
Insurance Review
Summary of the corporation’s current insurance coverage, deductibles and potential owner exposure.
Water-damage deductible
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.
$100,000
Confirmed
$48.5M
Property replacement coverage
High
$50,000
Sewer-backup deductible
Included
$5M
General liability coverage
Recommended Buyer Follow-Up
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.
Section 05
Meeting Minute Highlights
Important themes and unresolved matters identified in board and annual general meeting minutes.
June 18, 2026
Exterior investigation expanded
The board approved additional destructive testing after moisture was identified behind portions of the exterior cladding.
April 22, 2026
Contractor claim remains unresolved
Legal counsel continues to review a payment dispute involving a former mechanical contractor. No final liability amount has been recorded.
January 14, 2026
Recurring water incidents discussed
The board reviewed three water-loss incidents and discussed stronger enforcement of owner maintenance obligations.
October 8, 2025
Elevator modernization planning
The elevator consultant recommended modernization within two to four years due to increasing service interruptions and parts availability.
July 16, 2025
Parking dispute recorded
The board reviewed a complaint involving inconsistent parking-stall records and directed management to verify assignments.
Section 06
Bylaws and Restrictions
Plain-language summary of restrictions that may affect how the unit can be occupied, renovated, rented or used.
Pets require board approval
A maximum of two domestic pets is permitted. Certain size restrictions apply, and written board approval is required before a pet occupies the unit.
Short-term rentals prohibited
Rentals shorter than 90 days are prohibited. Owners must provide tenancy details and a signed tenant undertaking to management.
Renovations require approval
Flooring, plumbing, electrical, structural and exterior-facing alterations require prior written approval from the corporation.
Parking assignment should be verified
The purchase contract identifies stall 114, while the corporation’s parking schedule appears to identify stall 141. This discrepancy should be resolved in writing.
Insurance deductibles may be charged back
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.
Section 07
Recommended Buyer Actions
Questions and documents the buyer should consider requesting before removing conditions.
1
Request the latest exterior project update
Ask for the most recent engineering report, cost estimate, board decision and proposed funding plan.
2
Confirm special-assessment status
Obtain written confirmation of whether any special assessment has been approved, proposed or formally discussed.
3
Clarify owner arrears
Ask management for an updated arrears total and whether any significant balances may be difficult to collect.
4
Resolve the parking discrepancy
Confirm the legally assigned or exclusive-use parking stall in writing before closing.
5
Review insurance with a broker
Confirm adequate personal coverage for deductible assessments, loss assessments and unit improvements.
6
Seek professional advice where appropriate
Discuss legal, financial, insurance, engineering or property-condition concerns with the relevant licensed professional.
Full Sample
Complete PDF Report
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Designed for Clarity
Important information without the confusion.
Clearwise Reports turns a large condominium document package into a structured report that helps buyers understand what deserves their attention.
Plain-language explanations
Complex documents are translated into organized summaries that are easier for buyers to understand and discuss.
Clear follow-up questions
The report provides a practical checklist of questions and items the buyer may wish to clarify before removing conditions.
Important notice
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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