When thinking about selling your condo in London Ontario, besides the price and whom you select to represent you, you may want to get in touch with your London Ontario condo corporation before you list it on MLS.
99% of the time, if you and the buyer agree on price, there will be a condition clause that states that the buyer’s lawyer will have 7-10 days to review the status certificate provided by the condo management company.
The buyer’s lawyer is looking at the financial status of the corporation, to see if there are any unpaid condo fees or assessments from you, if there are any infractions, such as a screen missing, an unauthorized addition such as a deck, satelite dish etc.
You would be surprised at the amount of hasty remedies, discussions that occurs if a lawyer finds out some things that you were not aware of.
To ensure a smooth sale, take the time and effort to find out if there are any issues that could effect the final sale of your condo in London Ontario.
The above step is only one of many we take to help our client’s sale go smoother with less headaches and no surprises!
It is the professional way
This complex is located right across from Masonville Mall and bordres on Richmond St and Sunnyside. Over the years these 1, 2 and 3 bedroom units have been sought after because of the location, price and the proximity to The University of Western Ontario.
The 4 buildings at Masonville Gardens were in need of updating, be it the windows, lobbies, roof, electrical, facade and eliminating the wood fireplaces and restructuring the balconies and excavating the foundation around all 4 buildings.
The complex will look great when completed however, right now there is a legal quagmire, see this link here in The London Free Press.
There have been some sales over the past year or two and I have talked a few buyers from buying these, especially investors and parents for their children. What amazes me the most are the buyers who have purchased in there without getting a status report or their lawyers not thoroughly reviewing the report and allowing their clients to buy!
An experienced professional Realtor would know about troubled condo corporations, the history and the challenges. That is not to say those challenges could not be overcome by a professional, (there is always a way), yet people make poor choices when spending $1000’s of dollars because they will not listen or allow their bravado to overcome common sense.