In this episode of the Toronto Living’s podcast, Mark Savel and Joey Virgilio, realtors with Sage Real Estate, dive deep into the intricacies of condo status certificates.
They break down the critical components, including checking the legal numbers, parking, maintenance fees, reserve funds, legal proceedings, and insurance. The hosts also discuss the importance of using experienced real estate lawyers for thorough reviews.
Additionally, Mark and Joey share personal stories, recommended eateries like Paris Bakery, and celebrate Joey’s 33rd birthday with a surprise treat.
Don’t miss out on the valuable insights for condo buyers and fun moments from Episode 72!
Chapters
(00:00) Imaginary Cap and Dream Condo
(00:32) Introduction to Status Certificates
(00:59) Podcast Introduction and Hosts
(01:44) Bruce Springsteen and Listener-Inspired Episode
(03:28) Food Adventures and Shoutouts
(06:16) Sound Bath Experience
(08:18) News You Can Use: Renoviction Bylaw
(11:30) Joey’s Birthday Surprise
(13:54) Deep Dive into Status Certificates
(21:05) Understanding the Seller’s Financial Status
(22:19) Importance of the Reserve Fund
(23:31) Special Assessments and Their Impact
(29:36) Legal Proceedings and Claims
(34:01) Agreements with Other Buildings
(34:59) Leasing of Units and Insurance
(37:33) Reviewing the Status Certificate
(41:35) The Role of a Real Estate Lawyer
(45:37) Conclusion and Final Thoughts