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Diamond & Diamond Lawyers has integrated Bluink’s eID-Me Digital ID into our virtual real estate platform to reduce fraud and make transactions faster and easier. With eID-Me, our clients can remotely verify their identity, quickly onboard onto the platform, and access the client portal password-free. It is our mission to make the real estate process as seamless, safe and convenient as possible for our clients. Have access to your client portal even after your transaction closes to retrieve important documents when you need them.
Enjoy the best the industry can offer in legal signing technology seamlessly integrated into our virtual meetings OR the largest network of in-home commissioners who come to you for the familiarity of pen and ink signatures. No matter your preference, Diamond & Diamond can sign you in the comfort of your own home, on your laptop or in-person with a mobile Commissioner of Oaths. Leading the way to make your transaction safe, secure, and as stress free as possible. No waiting rooms, more time to take care of what matters.
Typically a condo’s status certificate is either provided through the selling realtor prior to you submitting an offer, or, a seller will be obligated to provide the status certificate to you within a specified time in your Agreement of Purchase and Sale. However, it is important to know that the requirement to provide a status certificate is not a built-in provision to the standard OREA agreement template in Ontario, so it must be added as an additional provision by yourself or your realtor.
Most management companies for condo corporations will not release a status certificate to a potential buyer without the seller’s consent, there is also a fee charged by the condominium for its preparation. So a good practice is to have your agreement indicate that it is the seller’s responsibility to provide you, the buyer, with the full status certificate and its attachments within a timeline after right after the agreement is signed. The agreement should also allow you to have it reviewed and give you the right to exit the agreement if you are not satisfied with what is disclosed.
In every purchase of a condo, where a recent status certificate cannot be obtained prior to signing the Agreement of Purchase and Sale, the agreement itself should include a clause making the agreement conditional upon the receipt and review of the status certificate. In most cases you will not be able to obtain mortgage financing without the bank receiving a favourable review of the status certificate from your lawyer. The status certificate will also include copies of the condominium’s insurance certificate which is a requirement for funding most mortgages. Therefore, as you may be reliant upon the seller obtaining the status certificate for you from the condominium, not having the right to demand the status certificate can jeopardize your ability to obtain mortgage financing and so your entire transaction.
You may also need a status certificate if you are planning to refinance your condo, especially if the refinance is with a new mortgage lender. If you know the timing of your refinance, it is usually cheaper to order the status certificate in advance rather than to order it once the mortgage paperwork is given to your lawyer a few days before your mortgage closing. The new lender may not agree to fund your mortgage until they know your lawyer has reviewed the status certificate.
A status certificate and its attachments are the main avenue a condominium discloses to potential buyers what legal, financial or engineering challenges the condo is expecting or in the midst of and what rules and budget decisions are already in place. Therefore, the status certificate is an important way for potential buyers (and future members of the condo corporation) to know what to expect once they take ownership.
Our real estate lawyers will look for red flags in the status certificate’s disclosure that a buyer should be aware of. Some examples include defects known to the condo’s board occurring either in the unit or the condo’s common elements, planned common element fee hikes or impending special assessments which may not have been disclosed by the seller. Issues such as impending lawsuits or legal judgments against the condominium corporation which may affect the corporation’s ability to maintain its current budget or exploding reserve fund contributions ordered in a recent reserve fund study which may cause fee hikes in the near term.
Just want to leave a review for Hayden Cantor, as he has been nothing but an absolute pleasure to deal with, and has gone above and beyond for my girlfriend and I. We are extremely impressed and will definitely be recommending Hayden to anyone that needs assistance regarding any personal injury claim. Thanks Hayden. Wishing you a great year ahead and wish you all the best!
Nastassia Ivanova has been handling my accident claim since 2016. I've have a challenging time since my car accident with injuries. Nastassia has offered guidance and patients, helping me arrange transportation and reminders when I have important appointments. I'm always able to get a quick response to any questions within minutes. Nastassia has exceeded my expectations, when my Insurance Co. cut my funding for treatment Nastassia was able to work with them to maintain needed treatments so I can concentrate on recovery.
After a slip and fall accident I contacted Diamond & Diamond. This was a long process, however the lawyer assigned to my case (Joshua and his law clerk Shir) stayed in touch and guided me through this arduous process. From the initial consult, prepping for the hearing and representing me at the hearing, Joshua was very professional and personable. I was pleased with the settlement negotiated for me and I would highly recommend Diamond & Diamond.
I must say it’s not a pleasant experience getting injured in a car accident. Having to worry about who to hire when you’re in such disarray is something I never thought I’d have to go through. I must say, I was referred to a fantastic lawyer by the name of Hayden Cantor. What a special person. You have to make sure you do your due diligence and have the best of the best on your side. Thanks to Hayden, I was able to focus on my recovery and only that. He’s not just a personal injury lawyer, but he’s a dear friend of mine now. Trust is everything, and he really cares and makes sure you’re in good hands. Thank you Hayden from the bottom of our hearts.
I have sold and bought several properties with the help of Diamond Real Estate lawyers and I cant thank them enough for their professional assistance they have provided. Special shout out for: Mr. Joseph Berljawsky for professionally dealing in my behalf an issue that occurred a couple of years ago after we sold our house and for some unjustifiable reasons a claim showed up. Thank you Mr. Berljawsky and Mr. Darryl Singer team for all your support.
Yes, Digital ID technology is safe and secure. Because it is securely encrypted and stored, your personal information can’t be accessed by anyone else, decreasing the chances of a data breach and misuse and identity theft.
Yes, you can find more information about e-ID Me online. Many resources are available and accessible to anyone interested in learning about this new technology and how it could affect the real estate industry.
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