A condo sale depends as much on documenting the building as on presenting the unit. Gathering information before launch reduces delays and improves buyer responses.
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Key takeaways
- Organize documents into two groups : those for your unit and those for the building.
- Gather the declaration, regulations, minutes, financial statements, budget, insurance, fund information, maintenance log, fund study and available assessment notices.
- Preparation should clarify space, light, views and storage.
Prepare your seller’s file
Organize documents into two groups: those for your unit and those for the building. Note their dates and request necessary updates. A missing document is a question to resolve, not a reason to give a buyer an approximate answer.
| File | Items to check |
|---|---|
| Your unit | Title, certificate of location, invoices and renovation approvals |
| Syndicate | Certificate on the condition of the co-ownership, financial statements, budget and minutes |
| Management and maintenance | Bylaws, insurance, planned work, available maintenance log and fund study |
| Accessory rights | Parking and storage status, conditions of use |
| Transaction | Assessments, dates, inclusions and mortgage payout costs |
Adapt the list to your transaction. Confirm applicable obligations and documents with your broker and relevant professionals.
Obtain documents before showings
Gather the declaration, regulations, minutes, financial statements, budget, insurance, fund information, maintenance log, fund study and available assessment notices.
Also review the location certificate, unit changes, approvals and parking or storage documents. Request syndicate-supplied information early.
Present the unit and set the right price
Preparation should clarify space, light, views and storage. For a vacant unit, my virtual-staging tool can illustrate a layout while clearly identifying images as visualizations.
Compare genuinely similar units: floor, orientation, parking, area, condition, fees, amenities and REM proximity may influence buyer response.
Recent condo: consider competing developer units
If new units remain available in the project, buyers may compare your condo with the developer’s inventory. Check actual available offers, inclusions, applicable taxes and timing. An advertised starting price may refer to a very different unit.
Your purchase price and paid upgrades do not automatically determine resale value. Document verifiable features instead: orientation, floor, layout, parking, storage and condition. Avoid assigning a fixed value to a view or finish without relevant comparisons.
If you do not yet own the unit and want to transfer a purchase contract with the developer, that is different from reselling after acquisition. Have the contract, necessary consents and tax consequences reviewed before proceeding.
Prepare accurate answers for buyers
Gather documented answers to questions that can affect a decision. If work or an assessment is being discussed but has not been approved, distinguish a proposal from an adopted decision. Do not promise there will be no future expenses simply because no notice has been received.
- Fees : explain what is included and provide the corresponding budget.
- Work : provide available decisions, timelines and documents.
- Bylaws : have relevant pet, rental and renovation rules checked.
- Special assessment : clarify its treatment in the transaction without assuming who will pay.
Common questions before reselling
Should I renovate the kitchen before selling? Compare cost and timing with competing units. Cleaning, lighting and targeted repairs may be enough to improve presentation. Renovating does not guarantee recovery of its cost.
Can I use a neighbour’s price per square foot? It provides context, but check measurement methods and differences in floor, parking, condition and sale terms.
How can I estimate what remains for my next purchase? Estimate proceeds after your mortgage payout, fees and amounts payable by you. Keep a reserve and separately verify any tax questions associated with a recent resale.