The Rise of Non Warrantable Condos in Canada and the Hidden Financing Risk for Buyers
Posted by Adam Chahl on
A condo can look perfect online, show beautifully in person, and still become a financing problem before closing. The buyer may have strong income, a mortgage pre approval, and a signed purchase agreement. Then the lender reviews the building documents, appraisal, insurance, reserve fund, or ownership structure, and suddenly the deal starts to wobble.
That is the hidden risk behind non warrantable condos in Canada.
Most buyers focus on the unit. They look at the kitchen, the view, the monthly condo fee, the parking stall, and whether the building has a gym they will probably use twice. But lenders look deeper. They want to know whether the entire condo corporation is financially stable, properly insured, marketable, and low risk enough to lend…
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