Articles tagged with
Depreciation Report

Depreciation Reports

By Kris Grasty Important ways they may affect your property value or mortgage approval. Though Ontario passed this legislation over 10 years ago, the deadline for Depreciation Report compliance for B.C. was December 13th, 2013. These reports determine if reserve funds are established and allocated properly, reducing the risk to lenders by making strata homeowners less likely to face large special assessments. Depreciation Reports are not meant to force people to...[ read more ]

Don't let a Depreciation Report Derail your Financing

By Neil Mangan Imagine the following scenario. You search the city looking for your dream home. You find it. You fall in love. It is a beautiful condo in your favourite neighbourhood. You were pre-approved for a mortgage and, just your luck, your dream home is just within your budget. Your offer to purchase is accepted, you send the details to your lender and start planning your move....[ read more ]