Frequently Asked Questions

Buying a condo means buying more than just the unit—you are also buying into the condominium corporation, its finances, its future expenses and its overall condition.

A Condo Document Review helps you better understand the documents provided during your purchase. We review the financial and operational information available and look for things that may be important to you as a buyer, including reserve fund planning, financial health, upcoming projects, special assessments, insurance concerns and other potential red flags.

Think of it as another important piece of your due diligence before removing conditions.

Your condo documents are reviewed by Amanda Blacktopp, the owner of YYC Condo Review.

Amanda brings more than 20 years of experience in the real estate industry, including extensive experience in property management. She is a licensed Real Estate Professional in the practice of Property Management with RECA and holds the Certified Property Manager (CPM®) designation.

Over the years, Amanda has reviewed more than 1,500 condominium document packages and has experience working with condominium financial information, reserve fund planning, building operations, budgets, insurance and the many issues that can affect condominium owners.

Most importantly, your documents are reviewed by a real person—not simply uploaded into an automated system or summarized by AI.

Every condominium is different, and context matters. Amanda reviews the documents provided, looks for the bigger picture and helps translate complex condominium information into an easy-to-read report that makes sense to the average buyer.

And if you have questions after receiving your report, you can reach out to discuss what you found.

The process is simple!

Once you have the condo documents, you can submit them through our online registration form. We’ll let you know if anything important appears to be missing, and then we get to work reviewing the information provided.

Within two business days, you’ll receive your completed interactive report.

After you’ve had a chance to review it, you can reach out with questions by email or phone. We want you to understand what you’re buying—not just receive a report and be left to figure it out on your own.

Ideally, as soon as you receive the condo documents and while you still have time remaining on your purchase conditions.

Ordering early gives you time to receive your report, review the findings, ask questions and request additional information if something needs further investigation.

Waiting until the last minute can make an already stressful decision even more stressful—especially if additional documents are required or there are questions that need to be clarified before you remove conditions.

We review the documents provided as part of your condo document package. Ideally, this includes items such as:

• Reserve Fund Study and Reserve Fund Plan
• Current and previous financial statements
• Current budget and unit factor fee information
• AGM and board meeting minutes
• Registered bylaws
• Insurance information
• Disclosure statements from the management company
• MLS listing information

Every building and document package is a little different, so don't worry if you're unsure whether you have everything. We can help identify what may be missing or important to request.

Missing documents don't necessarily mean there is a problem, but they can make it more difficult to get a complete picture of the condominium corporation.

Depending on what is missing, it may be important to request additional information before removing conditions.

For example, without recent financial information, meeting minutes or a current Reserve Fund Study, it may be difficult to properly understand the condominium corporation's financial position, upcoming projects or long-term planning.

As part of the review process, we identify important documents that may be missing from the package so you can determine whether additional information should be requested.

Before removing conditions on a condo purchase, it's important to understand that you're not just buying the unit—you are also buying into the financial and physical condition of the entire condominium corporation.

Some of the key things buyers should look at include:

• The current financial position of the condominium corporation
• The Reserve Fund Study and whether the reserve fund appears to be appropriately funded
• Any upcoming major repairs or capital projects
• Previous or potential special assessments
• Current condo fees and whether increases may be expected
• Board meeting and AGM minutes for recurring issues or concerns
• Insurance deductibles and insurance-related risks
• The registered bylaws and any restrictions that may affect you
• Loans, legal matters or other financial obligations of the condominium corporation

The challenge is that this information is often spread across hundreds of pages of documents. A Condo Document Review can help bring the important information together and explain what it may mean for you before you remove conditions.

Our standard turnaround time is two business days.

We know that real estate conditions can come with tight deadlines, so we work hard to make the process efficient while still taking the time to properly review the documents. No surge pricing, no complicated packages—just one straightforward service.

Our reports are designed to be easy to read and easy to understand.

Condo documents can be hundreds of pages long and filled with financial statements, technical information and condominium terminology. Our goal is to help make that information more approachable.

Your interactive report highlights the important information, explains what it means and helps you understand the areas that may deserve more attention. We also include helpful resources and links where appropriate, so you don't have to become a condominium expert overnight.

First: don't panic.

Not every issue means you should walk away from a property. Condominiums are complex, and even well-managed buildings can have upcoming repairs, projects or financial considerations.

If we identify concerns, we'll explain what we found and why it may matter. The goal is to give you information—not to tell you whether you should or shouldn't buy the property.

Sometimes the biggest red flag is something that needs further investigation. Other times, it may simply be something you should understand before making your decision.

A clean review isn't a bad review!

Not every condominium has major problems, and a good review can be just as valuable as finding concerns. Our job is to review the documents provided and help you understand the financial and physical health of the condominium corporation based on that information.

If things look well-managed and appropriately planned for, that's good news—and we'll tell you that too.

Absolutely.

Your Condo Document Review includes the opportunity to ask questions by email or phone after you receive your report. We want you to feel comfortable with the information and have a better understanding of the condominium documents before making your decision.

No. The decision to purchase is ultimately yours.

Our role is to review the information available in the condominium documents, identify areas that may be important and help you understand what you're looking at. We provide information and context so you can make a more informed decision.

A YYC Condo Review is $400 + GST, with no complicated pricing tiers or surge pricing.

Your review includes the interactive report and the opportunity to ask questions after you've received it.

A Reserve Fund is money set aside by a condominium corporation to help pay for major repairs and replacements to the common property. Depending on the property, this could include items such as roofs, windows, elevators, parkades, building envelopes, mechanical systems and other major components.

When reviewing a condo, buyers should look beyond simply asking, “How much money is in the Reserve Fund?”

The more important question is whether the condominium corporation appears to have enough money—and a realistic plan—to address upcoming repairs and replacements.

A large Reserve Fund doesn't automatically mean a building is financially healthy, and a smaller Reserve Fund doesn't automatically mean there is a problem. The Reserve Fund needs to be considered alongside the Reserve Fund Study, the age and condition of the property, upcoming projects and the overall financial position of the condominium corporation.

There isn't one magic number that makes a Reserve Fund “good” or “bad.”

When reviewing a condominium's Reserve Fund, we look at the bigger picture. This may include the current Reserve Fund balance, planned contributions, projected expenses, upcoming repairs and whether the assumptions in the Reserve Fund Study appear reasonable based on the information available.

Buyers should also pay attention to whether major projects are coming sooner than expected, whether Reserve Fund contributions have been keeping pace with the plan and whether the condominium corporation may need to borrow money or charge owners a special assessment to complete future work.

A healthy Reserve Fund is not just about the amount of money currently sitting in the bank—it's about whether the condominium corporation appears to have a realistic financial plan for the future.

A special assessment is an additional amount charged to condominium owners to help pay for an expense that is not fully covered by the condominium corporation's existing budget or Reserve Fund.

Special assessments can be used for major repairs, unexpected expenses, insurance-related costs or other financial needs of the condominium corporation.

Receiving a special assessment does not automatically mean a condominium is a bad investment. However, buyers should understand why the assessment was needed, how much it was, how it was funded and whether there may be additional expenses or projects on the horizon.

Past special assessments can also provide important context about the history and financial management of the condominium corporation.

Not necessarily.

A special assessment can happen for many reasons, including unexpected repairs, major building projects, insurance-related costs or work that was not adequately planned for in the Reserve Fund.

The important question is why the assessment happened.

For example, a special assessment for a major one-time project that has now been completed may be very different from a condominium corporation that repeatedly needs to charge owners additional money because of ongoing financial or building issues.

When reviewing condo documents, we look for the context surrounding special assessments and other major expenses so buyers can better understand the history of the building and what may still be ahead.

Condo fees can increase for many reasons.

The annual operating budget may need to account for higher utility costs, insurance premiums, maintenance expenses, contracts, wages or contributions to the Reserve Fund.

An increase in condo fees is not automatically a red flag. In fact, artificially low condo fees can sometimes create problems if the condominium corporation isn't collecting enough money to properly operate and maintain the property.

When reviewing a condo, it can be helpful to look at the current budget, recent fee increases and whether there are expenses that may continue to put pressure on future condo fees.

The goal isn't necessarily to find the lowest condo fees—it's to understand whether the fees appear appropriate for the property and the services, maintenance and long-term planning required.

Not always.

Low condo fees may be appealing when comparing properties, but they don't tell the whole story.

A condominium corporation still needs enough money to cover its day-to-day operating costs and make appropriate contributions toward future repairs and replacements. If fees have been kept artificially low, owners may eventually face significant increases or additional costs.

Higher condo fees aren't automatically a bad thing either. Some buildings include more services and amenities, while others may have higher operating costs due to their size, age or building systems.

When reviewing condo documents, it's important to look at what the condo fees cover, how the money is being spent and whether the condominium corporation appears to be planning appropriately for the future.

We do—and this is something we're incredibly proud of.

For every Condo Document Review completed, YYC Condo Review gives back to the community through donations to local charities and initiatives.

When you book a review, you're not just investing in understanding your potential new home. You're also helping us continue to support organizations doing important work in our community.

It's our way of making sure that every review has an impact beyond the condo documents.

Condo documents can be overwhelming. Our goal is to make the process easier.

You'll receive:

• An easy-to-read, interactive report
• A review completed by a real human
• Clear explanations without unnecessary jargon
• A two-business-day turnaround
• The opportunity to ask questions after your review
• One straightforward price with no surge pricing
• The knowledge that every review also helps give back to our community

Because buying a condo is a big decision—and understanding what you're buying shouldn't feel impossible.

Buying a condo can involve a lot more paperwork than most buyers expect. Our goal is to make the process easier to understand.

With an easy-to-read, interactive report, a two-business-day turnaround and the opportunity to ask questions after your review, YYC Condo Review helps Calgary and Alberta condo buyers better understand what they're buying.

And with every Condo Document Review, we also give back to our local community—because we believe every review can have an impact beyond the property itself.