So you have a condo listing to dig into – either on the buy side or the sell side – amazing!
Your first step it to obtain the strata documents. Normally, you would order strata documents from the property management firm directly, or from third-party services like:
- VREB StrataDocs
After ordering documents, you may have to wait a few days until the order is fulfilled. Are you an agent on the buy side? If so, you can obtain the required strata documents directly from the listing agent once you have a client that is prospective buyer.
Ok – now you have the documents in hand, so what’s next? In British Columbia, as a licensed real estate professional, you have professional standards and rules to adhere to. One of which is using reasonable efforts to discover relevant facts respecting any real estate a client is considering acquiring (Duty to Clients).
Reviewing strata documents is a critical part of the condo due diligence process. Often, documents are lengthy and contain a huge amount of relevant information. Once you obtain strata documents from either the property manager or eStrataHub, Eli Report should be your next stop! Empower yourself to better inform your client, while looking more professional at the same time by utilizing Eli Report artificial intelligence to extract critical due diligence items from strata documents almost instantly.
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