Preliminary Condominium Survey (Expected) size vs. Final Condominium Survey (Actual) Size

A common and understandable question we often receive is `how does my estimated suite size compare with the actual finished size?’

  1. Simply put, Homeowners acknowledged that the square footage shown on all the marketing materials and handouts is approximate and based on Preliminary Condominium Survey measurements( known as Schedule 1), which shows the Preliminary Survey size of the home in square meters. (see page 7 of the Condo Documents: (Park Point Condominium Documents – Alberta (Schedules, Proposed Budget, Proposed Bylaws, Warranty Coverage…)
  2. When the building is complete, a Final Certified Condominium Survey is taken  to measure the actual “as built” size of the home and is filed at the Land Titles office.
  3. Feel free to speak with your lawyer if you have any concerns regarding preliminary vs. final survey size

So what happens if my suite is smaller or bigger than estimated?

  1. If the proportion by which the Actual Area varies from the Expected Area (the “Variance”) is less than 5%, there will be no adjustment to the Purchase Price to reflect same.
  2. If the Variance exceeds ±5% the Purchase Price will be increased or decreased, as the case may be, by the “Adjustment Factor” (as hereinafter defined) per square foot in respect of that part of the Variance which exceeds ±5%.
  3. If the Variance exceeds ±5% the Purchase Price will be increased or decreased, as the case may be, by the “Adjustment Factor” (as hereinafter defined) per square foot in respect of that part of the Variance which exceeds ±5%.

All homes fall well within the variance amount and do not need to be adjusted (price increase or decrease). But again, your lawyer will confirm this with you at Closing.

Please note that as per the Survey Act, the whole total area of the home is determined. As such, there are no room by room measurements available. If you need to measure for a piece of furniture for example, it is best for you to take actual measurements of the required space as there can be variations from suite to suite.

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