Condominiums: What is a reserve fund, and why should you care?

Condominiums: What is a reserve fund, and why should you care?

When you buy a condominium one of the things that you (or usually your representatives) look into is whether or not the condo corporation has a healthy reserve fund.

When you buy a condo unit, the vendor has to order what is referred to as an "estoppel certificate". This will outline the status of the fees for your specific unit, but it will also give you details about the reserve fund of the corporation.

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