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Summary: Selling a condo in Ontario works much like selling a house, with one main difference: you have to provide the buyer a status certificate from your condo corporation. Your monthly common expenses are also adjusted at closing, and any arrears must be cleared before the deal completes.
Most of a condo sale is the same as any home sale, from listing to signing to the transfer of title. What sets a condo apart is the extra layer of the condo corporation, and the one document that comes with it.
What is different about selling a condo compared with a house?
The core difference is disclosure. A condo buyer is also buying into a corporation, so they need to see the corporation's financial and legal health before they close, and that comes through the status certificate you provide. Your condo fees also have to be settled at closing.
Selling a house | Selling a condo | |
Key disclosure document | None required by statute | Status certificate from the corporation |
Recurring cost adjusted at closing | Property taxes | Property taxes and common expenses (condo fees) |
Arrears that can block closing | Property tax arrears | Condo fee arrears (the corporation can register a lien) |
Extra party involved | None | Your condo corporation or property manager |
What is the status certificate, and why must you provide it?
A status certificate is a disclosure package the condo corporation prepares that sets out its finances, rules, insurance, reserve fund, and whether your unit is current on its fees. The buyer's lawyer reviews it before closing, so as the seller you order it and give it to the buyer.
You request it from the corporation or its property manager. By law the corporation must deliver it within 10 days, and the fee is capped at $100 including taxes. The certificate usually includes:
Financial statements and the current budget for the corporation.
The reserve fund balance and study, which shows whether major repairs are funded.
Any current or planned special assessments that could raise costs.
The declaration, by-laws, and rules that govern the building.
Your unit's common-expense status, confirming whether fees are paid up.
For a full walkthrough of what a buyer's lawyer looks for, see our guide to status certificates in Ontario.
How do condo fees and arrears affect your sale?
Your common expenses, the monthly condo fees, are treated much like property taxes at closing. They are prorated on the statement of adjustments to the closing date, so you pay for the days you owned the unit and the buyer picks up the rest.
Arrears are the bigger issue. If you owe common expenses, the corporation can register a lien against your unit, and that lien has to be cleared before you can give the buyer clear title. Your lawyer confirms the fee status with the corporation and pays out any arrears from the sale proceeds at closing. A looming special assessment must also be disclosed in the status certificate, and it can affect what a buyer is willing to pay.
What are the steps to sell a condo in Ontario?
The path mirrors a house sale, with the status certificate slotted in after you have a deal. Your real estate lawyer handles the corporation and the closing adjustments.
List and accept an offer. A condo buyer's agreement usually includes a condition to review the status certificate.
Order the status certificate. You or your lawyer request it from the corporation or property manager, for up to $100 and within 10 days.
The buyer's lawyer reviews it. They check the corporation's finances, rules, and your unit's fee status, then waive the condition if satisfied.
Clear any arrears. Your lawyer confirms there is no outstanding balance or lien on the unit before closing.
Close the sale. Common expenses are prorated on the statement of adjustments, and title transfers to the buyer.
Frequently asked questions
Who orders and pays for the status certificate when selling?
The seller. You (or your lawyer) request the status certificate from the condo corporation and provide it to the buyer, and the seller normally covers the cost.
How much does a status certificate cost?
The fee is capped at $100, including all applicable taxes, under Ontario's Condominium Act, 1998 and its regulations. A corporation cannot charge more than that to prepare it.
How long does the condo corporation have to provide it?
Ten days. Once you request the status certificate, the corporation is required by law to deliver it within 10 days of the request.
Do I need the condo corporation's approval to sell my unit?
No. You do not need the corporation's permission to sell, but you must be current on your common expenses and disclose the corporation's status to the buyer through the certificate.
Are condo fees adjusted at closing?
Yes. Your monthly common expenses are prorated on the statement of adjustments, so you only pay for the portion of the month you owned the unit.
About the author
Joel Fox is a co-founder and COO at Ownright. He helps run the firm's day-to-day work on Ontario residential closings, refinances, and sales, and writes regularly to demystify the parts of a transaction that most homeowners only encounter once or twice in their lives.
At Ownright, we focus entirely on Ontario residential real estate law. We help homeowners with purchase closings, refinances, and sales, including condo sales, all through a digital platform backed by licensed Ontario lawyers. You can read about when a seller gets their money after closing, start your sale online, or get in touch with any questions.
Legal references: Condominium Act, 1998, S.O. 1998, c. 19 (status certificate, s. 76; common expense lien, s. 85); O. Reg. 48/01 (status certificate fee cap, s. 18(4)).
Important note: This article is not legal advice. No one should act, or refrain from acting, based solely on the information in this post or any linked materials without first seeking appropriate legal or professional advice.
