Are Edmonton Condos Protected?

July 4, 2010 · Filed Under Condos 101 · Comment 

Is your Condo safe from damage from weather and other elements? By regulation condos in Edmonton and the rest of Alberta are required (through the condominium corporation) to have the their condo complex insured against the following perils:

  • fire
  • leakage from fire protective equipment
  • smoke
  • lightning
  • windstorm
  • hail
  • explosion from natural gas, coal, or manufactured gas
  • water damage caused by flood
  • water damage caused by sewer back-up or the sudden and
    accidental escape of water or steam from within a
    plumbing, heating, sprinkler or air conditioning system or
    a domestic appliance that is located within an insured building
  • impact by aircraft, spacecraft, watercraft and land vehicles
  • riot, vandalism or malicious acts
  • any other perils as required in the specific by-laws of the condo

This insurance policy is negotiated by the condo corporation and is paid for by the monthly condominium contributions (commonly referred to as “condo fees”).

When I’m working with clients who are buying a condo in Edmonton I always request from the seller that they provide my client with an insurance certificate that verifies that the condominium corporation has a valid and current insurance policy for the corporation. By doing your due-diligence you are ensuring that if something out of your control does happen to your condo building or unit then you are protected.

Author: Nathan Mol, REALTOR®

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Buying a Condo or Home in Edmonton for the First Time

January 16, 2009 · Filed Under Buying a Condo, Condos 101 · Comment 

If you are thinking of buying a home for the first time in Edmonton, whether its a condo or single family detached home, I recommend taking advantage of our Online Seminar for First Time Home Buyers which will put on by my partner Sheldon Johnston who is also the Broker of Coldwell Banker Johnston Real Estate.

Often people who are thinking of buying for the first time email us with many questions which are similar to one another so this is good opportunity to have your questions answered by an experienced Edmonton REALTOR® and to learn from other home buyers questions as well.

The seminar will cover aspects of buying a home which are common to both detached homes and condominiums. There are also unique challenges buyers can face when purchasing a condo that don’t apply to detached homes. For example each condo complex is different in how they are managed and their current state. If you have specific questions about certain condos in Edmonton you can also ask me.

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