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02 Feb

Condo Corp

Ok, so I know I’d said that I’d keep up with posting a little better, but you know, a week isn’t too bad.

Michelle & Marisa came down for the weekend.  We had a fun time around the boxes I’d already packed.  The roast we had from Supperworks was amazing!  We also picked up the board game of Ticket to Ride b/c it turns out Michelle and I are pretty much the only ones who enjoy playing on the xbox.  Oh well, now we can play with more than 3 people!  Oh, and we started playing with the double 18 dominos.  (I think our version is a variant of mexican train.  We change the rules a little, and pull 21 tiles since we are starting with 18’s…)  We got through 3 hands (of the 20 hands to complete the game) in about 2 hours… and stopped.  I think Michelle and I are the only ones patient enough to play one game of dominos that takes hours on end with tiles with an insane number of dots on them.  I tried to get them to mix in Munchkin with the dominos, but that didn’t go over well.  (I thought go up a level means you can play an extra tile on  your turn but apparently they weren’t into that, or the extra time, or in Marisa’s case, learning 2 games at once.)

I guess I should probably get into the topic of the post, eh?  So Condo Corp…

I picked up the paperwork from the condo corp on Friday.  Seemed pretty cool that the property manager was only 2 doors down from me, so if I had an issue, she’d be there.  (It’d be a bad thing if I planned on being an issue, but I’m not, so it’s a good thing.)  So picked up the paperwork, and today, met with my lawyer to go over it.  We just skimmed through it, deciding that for him to go line by line would cost $800, and since we could probably pick out the major issues, it’d be be better for us to read it over throughally, and then call him with any questions.  The biggest issue with the paperwork is that they didn’t give me a status certificate.  This is a BIG no-no.  Especially since that’s what I had 10 days to approve.  They gave all the other paperwork though… sort of.  All of the past financial statements are dated in 2008.  And, to make it worse, the reserve fund for the condo corp was under $20,000.  This should definitely be larger for a corp with approx 40 units, each paying $200 a month, and $17,000 of it is supposed to go in the reserve every month.  What could they possibly do that they cleared out the entire reserve?

My lawyer told me to request a status certificate and current financial statements.  So I did.  Stan’s working with the other realator right now.  All I’ve heard is that there doesn’t seem to be any paperwork from 2009.  Hmmmm….  Not sure this is something I should get myself into, no matter how perfect the location seems to be, and how much the house meets my needs…  We’re going to find out from Stan what’s going on at some point, and see what he thinks.  Paul definitely doesn’t think I should go for it if they don’t have the proper paperwork; his words were something along the lines of, “If this is how they manage their company, how do you know they’ll take care of any issues you might have?”

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