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Usually, the seller of a property will pay for an estoppel certificate through their lawyer. The certificate costs between $200-$350 in Canada and is sent to the buyer's lawyer. Although it's not mandatory to have an estoppel certificate notarized, it does provide extra security.
The certificate provides the following information: the current condominium contributions (also known as condo fees) for the unit. the payment schedule for contributions (usually monthly or yearly) whether any contributions are unpaid and. any interest owing on unpaid contributions.
Estoppel certificates vary in price. As a general rule, an estoppel certificate ranges from $200-$350. Some small condominiums do not charge for the estoppel certificate. The cost of the estoppel certificate should be fixed and constant for each specific condominium corporation.
Nov 19, 2023 · An estoppel certificate, not to be confused with the broader legal principle of “estoppel,” is a document that provides a snapshot of a condo unit’s financial and legal status at a specific point in time and is part of the due diligence process.
Jul 30, 2024 · Estoppel certificates typically cost between $200 and $350, though the fee varies between associations, and smaller associations might not charge a fee at all. Proof of insurance may or may not be an additional fee.
Document Fees. Do fees apply to document requests? What about rush fees for documents? Further resources. Condominium Boards and Requests for Information. Last updated: June 2022. Did the information increase your understanding? Fields marked with an * are required. Answer * Strongly disagree. Disagree. I don't know. Agree. Strongly agree.
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Oct 18, 2023 · How Much Does an Estoppel Certificate Cost? The cost of an estoppel certificate is not standardized and can vary. As a general guideline, you can expect the cost to range from $200 to $350.