What is a Status Certificate and how does it relate to a condo? Well by definition, a status certificate is “a document provided by the condominium corporation to buyers of resale condos that provides a snapshot of the unit as at the date that the certificate is issued. In most cases, if the building is serviced by a property management company, it is prepared by the property manager. The certificate must be given to the prospective buyer within 10 days of the date of the request, and the Condominium Act allows for a $100 fee to be charged for the status certificate.”
Despite Media interpretation the London and St.Thomas Market is still very active. With daily listings being posted in numbers (60-120 depending on the day, 112 today) and properties closing on regular basis (62 today), buyers and seller are indeed active.