Before you buy a condominium unit, you should obtain copies of the declaration, by-laws, common element rules, the reserve fund status certificate, the estoppel certificate and the audited financial statements and review them.
Common examples are the prohibition of pets and of conducting a business from the unit.
This is an agreement between the purchaser and the seller of property states the specific terms of the purchase. In most cases, a standard agreement form for condominiums is provided by the Nova Scotia Real Estate Commission. Before you sign any agreement of purchase and sale, take it to your lawyer to review its terms and the provisions of the documents to ensure that you are properly informed and your rights are protected. If the unit is incomplete, confirm the completion date. After Signing an Agreement Consult your Lawyer.