What does a real estate lawyer actually do in a status certificate review?

Buying a condo comes with unique risks that aren’t always obvious on the surface — and that’s exactly why the status certificate review matters. It’s a detailed look into the building’s finances, rules, and legal issues, and your real estate lawyer’s job is to break down this complex document into clear, actionable insights. Here's what they do:

Reviewing the financial health of the condo corporation

A status certificate reveals whether the condo corporation is financially stable. Your lawyer reviews the budget, reserve fund, and special assessments to see if the building is well-managed or if future expenses might come back to you as a surprise.

Checking for arrears or liens

Your lawyer confirms that the current unit owner has paid all condo fees and that there are no liens registered against the unit. This step protects you from inheriting someone else’s unpaid bills.

Reviewing the declaration, by-laws, and rules

Condos come with their own set of rules — from pet restrictions to short-term rentals. Your lawyer reviews the declaration, by-laws, and rules so you understand what’s allowed, what isn’t, and how it may affect your lifestyle.

Identifying potential legal issues

Sometimes, a condo corporation may be involved in disputes or lawsuits. Your lawyer looks for any ongoing or pending legal matters that could impact you as a future owner, whether it’s structural repairs or disagreements with contractors.

Explaining what it means for you

Perhaps the most valuable role your lawyer plays is explaining it all in plain language. A status certificate can be overwhelming, but your lawyer will break it down into clear takeaways — helping you weigh risks and make an informed decision before you finalize your purchase.

Wrapping up

A status certificate review isn’t just another step in the condo buying process — it’s your chance to really understand what you’re getting into. With a real estate lawyer guiding you through the details, you can feel confident that there won’t be surprises hiding in the fine print. It’s about more than documents — it’s about protecting your peace of mind as you invest in your new home. At Ownright, we make sure your review is clear, thorough, and stress-free, so you can move forward with confidence in your decision.