Strata Tip of the Week | The Impact of Strata Document Reviews

by Diana Winger

Does Condo Clear Dissuade Buyers? The Impact of Strata Document Reviews

One concern you might have, and a question we sometime get is:

“Will having a strata document review done by Condo Clear just discourage my buyers from going ahead with the purchase?”

As real estate professionals, we understand the complexity and significance of purchasing a property. Our primary objective at Condo Clear is to provide a thorough and balanced review of strata documents, highlighting both positive and potential negative aspects of the properties we evaluate.

1. How many people go through with the purchase?

With all this in mind, we still wanted to find out how many buyers go trough with the purchase. So, we decided to investigate. As of November 28, 2023, we started sending out a voluntary feedback survey to every buyer who’s had a strata document review completed by us. One of the questions we ask is:

“Did you end up purchasing the unit in the strata corporation we reviewed?”

Based on the responses we’ve received so far, the vast majority have said yes:

80.0% proceeded with the purchase
12.5% did not proceed with the purchase
7.5% answered “not yet”

2. We’re always available, at no extra cost!

To ensure buyers understand the information and contextualize our findings, we are not just available, but encourage buyers (and their Relators) to book a meeting with us, to discuss the review and ensure they gain a well-rounded perspective of the information presented. We are available by phone or email as many times as needed, at no additional charge!

That’s it for this week. If you have any suggestions for other topics you’d like us to cover, please let us know at info@condoclear.ca.

Disclaimer: The information provided is for general purposes only. It is not intended to provide legal advice or opinions of any kind. No one should act, or refrain from acting, based solely upon the materials provided, any hypertext links or other general information without first seeking appropriate legal or other professional advice.