I had lunch last week with a fellow Realtor and was told he was being sued by a Developer/Builder .The Realtor was a condo board member of a building within the Inner City and was asked by the developer to sign off on some deficencies. The board replied that they would not sign off until they had a full Technical Audit completed (which was the appropiate positoin to take to protect the unit holders of the building .
He was then forced to resign because the other board members stated that the “New Home Warranty ” will look after it. Turns out NWH did not . No warranty programs will look after deficicenies left by the builder.
It is amazing how the Condo Property Act in Alberta has “no teeth” which now makes this a legal matter for the courts rather than addressing it the way it should have through the C.P.A. A revised version is being promised by the Alberta Gov. in 2012.
There is a discussion paper being released by Service Alberta very soon which I will be putting my suggestions forward and hopefully the other 5500 Realtors in Calgary will be as well. Why,so we can have a piece of legislation that protects the people whom it was meant to protect ,the condo owners of Alberta.
Hopefully Condo Owners will have a chance to contribute to this discussion paper as well , so look for a Notice in The Calgary Herald . very soon.