Condo Due Diligence: What to Check Before You Buy
Buying a condo, strata, or co-op in Canada means inheriting the corporation's financial health, governance quality, and community dynamics. The disclosure package can run 200–600 pages. Most buyers skim it. The ones who don't sometimes discover $50,000 special levies, underfunded reserves, or dysfunctional boards — after closing. Pellucis exists to prevent that.
The Documents You Need
Regardless of province, your due diligence package should include:
Status Certificate / Form B
The primary disclosure document. Ontario calls it a status certificate; BC uses Form B.
Financial Statements
Audited or reviewed financials for the prior year. Revenue, expenses, reserves, arrears.
Reserve Fund Study / Depreciation Report
The corporation's long-term capital plan. Shows whether reserves match projected costs.
AGM & Board Minutes
Two years of meeting records. Reveals governance quality, capital decisions, and community dynamics.
Insurance Certificate
Property and liability coverage. Check the deductible — chargebacks above $25K are material.
Bylaws & Rules
Governing documents. Rental restrictions, pet rules, renovation policies, amendment history.
Current Budget
Operating and capital budget. Shows whether fees cover actual costs.
What Most Buyers Miss
Underfunded reserves
Reserves below 70% of the recommended balance signal deferred spending. Every shortfall dollar is a proportionate liability for each unit owner — payable through special levies or fee increases.
Governance red flags
Boards that overrun capital budgets, defer statutory studies, or fail to close action items create compounding risk. Governance problems don't show up in financial ratios — they show up in meeting minutes.
Insurance deductible chargebacks
Deductibles have surged to $100,000–$500,000 in many Canadian buildings since 2020. Under most bylaws, the corporation can charge the deductible back to the responsible unit owner. A single claim could cost you tens of thousands.
Community dysfunction
Low meeting attendance, chronic complaints, tribunal references, and quorum failures predict a difficult ownership experience. These patterns are buried in two years of AGM and council minutes.
How Pellucis Helps
Upload your disclosure package and receive a scored forensic review instantly. Pellucis analyzes every document across four dimensions — Financial, Governance, Property, and Community — and delivers a plain-language briefing with a clear Proceed, Negotiate, or Caution verdict and quantified dollar exposure.
The average Pellucis finding identifies $15,000 in exposure. At $249 per review, that is a 60:1 return on the most important purchase of your life.
Due Diligence by Province
British Columbia
Form B, depreciation reports, strata minutes. July 2026 deadline for Metro Vancouver depreciation reports.
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Ontario
Status certificates, co-op disclosures, reserve fund studies. Bill 72 amendments to status certificate requirements.
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Alberta
Condo document packages, estoppel certificates. Bill 30 expanded chargeback authority in 2026.
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Frequently Asked Questions
What documents do I need for condo due diligence?
The full disclosure package provided by the seller or property manager: status certificate (Ontario), Form B and strata package (BC), or condo document package (Alberta). This should include financial statements, reserve fund study or depreciation report, meeting minutes, bylaws, budget, and insurance certificate. The more documents you provide, the more thorough the analysis.
How is Pellucis different from a home inspection?
A home inspector evaluates physical condition — walls, roof, mechanical systems. Pellucis analyzes the financial and governance documents — reserves, arrears, board competence, community health, and insurance exposure. The two services are complementary: the inspector tells you about the walls; Pellucis tells you about the wallet.
Can I use Pellucis and a lawyer?
Yes — and we recommend it. Your lawyer reviews for legal compliance (liens, litigation, bylaw validity). Pellucis provides forensic financial and governance intelligence your lawyer does not assess. Most informed buyers use both. Pellucis costs $249; a lawyer typically charges $300–$1,500+.
What jurisdictions does Pellucis cover?
Pellucis currently analyzes properties in British Columbia (strata), Ontario (condominiums and co-operatives), and Alberta (condominiums). The engine is jurisdiction-aware — it applies the correct legal frameworks, statutory requirements, and governance standards for each province.
How much does a condo document review cost?
Pellucis charges $249 per property — one price, no surprises, instant turnaround. That is less than 0.05% of the average Canadian condo purchase price. The average Pellucis finding identifies $15,000 in exposure — a 60:1 return.