Hi guys,
I am making 3 offers on a building that is being converted. Though the sellers told me that the building is already converted, I just learnt today during this due diligence stage, that the reserve fund study and other condo documents are just being drafted and not finalized yet. Is this an alarming sign? Should I stay away from this situation? What should I worry about in a condo conversion scenario? What should I do to cover myself should I decide to go ahead with the purchase?
Thank you very much in advance for your answers!
Suzy
I am making 3 offers on a building that is being converted. Though the sellers told me that the building is already converted, I just learnt today during this due diligence stage, that the reserve fund study and other condo documents are just being drafted and not finalized yet. Is this an alarming sign? Should I stay away from this situation? What should I worry about in a condo conversion scenario? What should I do to cover myself should I decide to go ahead with the purchase?
Thank you very much in advance for your answers!
Suzy