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I have always wondered why potential buyers don’t reach out to the Secretary or Chair of the Committee to ask more about the building and how it’s run. It’s common for levies to be understated in the marketing materials and while AGM minutes can reveal the true amount of levies, the best way to learn about side conversations between owners is to ask. If they don’t want to talk, you’re no worse off. In a building with four apartments, you may find that everyone is on the Committee. When that happens, the Committee can spend money without going to a formal vote (or so we’ve been told by our SM), so you won’t find evidence of Committee decisions in the strata papers. I’m Chair of our Committee and I’d be happy to talk to any potential buyers about how we communicate, how we manage common areas, upcoming expenses (some on the CWP and some surprises) and so on.
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