If the amount of money which is in the condo reserve fund is insufficient to cover the cost of a repair to the condo, additional funds will have to be raised from the condominium owners.
This act of raising additional, often emergency funding, is called a ‘Special Assessment'
Bo Kauffmann is a residential real estate agent with over 18 yrs experience in helping buyers and sellers achieve their goals. Inducted into the REMAX Hall of Fame in 2010 and receiving the REMAX Lifetime Achievement Award in 2019, Bo has sold over 500 houses and condos in the Greater Winnipeg market. He is an accredited buyer representative (A.B.R.) and a Luxury Home Marketing Specialist. Bo provides exceptional service to First-Time Home-Buyers, Seniors looking to downsize and Home Sellers of all ages. He can be reached easily By E-Mail or call/text him Call/Text Here Our Latest Web-Stories Never miss an episode of our real estate podcast. Install our FREE Podcast App available on iOS and Android. For your Apple Devices, click here to install our iOS App. For your Android Devices, click here to install our Android App. Check my videos on Youtube
Buying a Condo requires even more knowledgable advice and help than buying a house. Here are 5 insider tips to help you get started in buying a condominium.
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