Changes to the Manitoba Condominium Act: Effective February 1st, 2015
If you even considered trying to sell your condominium privately before February 1st, 2015 you should definitely consider this option null and void. As a seller you are definitely going to want to retain the services of a licensed REALTOR who can guide you through the maze of paperwork and conditions now required. In partnership with a knowledgeable and experienced lawyer the responsibilities have increased tri-fold for sellers of both new and old condominium units.
It could take multiple pages of explanations to truly instruct sellers and buyers of what changes have been made to the Condominium Act but of utmost importance is the paperwork/record keeping trail, reserve fund and cooling off period. Here is a link to the Province's highlights: Province of Manitoba.
As with any new legislation there will be many grey areas and a learning curve but having a REALTOR on your side, whether buying or selling, will be a strong advantage over those whom try to navigate the process themselves.
If you are looking at buying or selling a condominium in the near future or just want to discuss how these changes could affect you give us a call or email today!