1. Documentation and information for listing purposes should be obtained from the strata lot owner (Seller) when the listing is taken. This will reduce the requirements for documentation and information at the time an offer is written and in turn, reduce costs. This will also enable the Realtor to better represent the Seller in the sale of their property.
2. When requesting documents or information under the Strata Property Act, the Strata Property Agent requires the request to be in writing accompanied by authorization from the property owner to the Realtor to act on their behalf.
3. The Strata Property Act provides for the provision of a Form B. Information Certificate and Bylaws or Rules within 7 days and other documents within 14 days. The Strata Property Act also prescribes the fees payable for the preparation of these documents. The fees payable are a maximum of $35.00 (plus GST) for a Form B and a charge of up to .25 cents per page (plus GST) for all requested documents.
4. Both parties understand and appreciate the complexities of the strata property transaction and realize that in certain circumstances, documents and information may be required sooner than prescribed by the Strata Property Act (7-14 days). In these instances, it is understood that fees higher than prescribed may be charged at the discretion of the Strata Property Agent.
5. When listing a strata property it is common practice for Realtors to request that the Strata Property owner request documents from the Strata Property Agent, acting on behalf the Strata Corporation. In the spirit of co-operative effort, a Strata Property Agent should not advise a Strata Property owner that the Realtor should pay for obtaining documents or information. Section 59(7) of the Strata Property Act governs this matter.
6. It is understood that certain documents may not be provided to owners or to prospective buyers if the Strata Council of the Strata Corporation has instructed the Strata Property Agent that these documents are of a confidential nature. In these instances it is the responsibility of the Strata Property owner to communicate with the Strata Council of the Corporation as the Strata Property Agent is acting on the direction of the Strata Council.
7. Fees for all documents requested from and provided by a Strata Property Agent must be paid whether the documents are picked up or not.
8. The Bylaws of a Strata Corporation are sometimes open to interpretation. Neither the Strata Property Agent nor the Realtor should assume the responsibility of providing interpretation. The interpretation of a bylaw or information in question should be at the discretion of either the Seller or the Buyer and their legal counsel engaged to represent their legal interests.