A Status Certificate is a short report on the current status of a condominium corporation. If you are buying a resale condominium, it is important that your agreement of purchase and sale is conditional, upon review of the Status Certificate by your lawyer. The Status Certificate provides valuable information directly from the condominium corporation, examples of such information include arrears or increases in common expenses; Whether any major work needs to be done to the building(s); The... [read more]