A: “Condominium” (condo) is a term used for legal ownership of an individual unit in a condominium corporation. A condominium corporation is the legal entity representing the collective interests of the condominium unit owners.

Ownership of a condo includes both the legal title to all the space inside the individual unit as well as an interest in the common areas of the condominium complex. Costs and maintenance of common areas and common elements are shared by all owners in the condominium corporation.

Fish Creek Exchange condominiums come in the form of flats, cityhomes and townhomes.

A: Flats are one-storey apartment-style condominiums that include deeded parkade parking with central elevator access.

Cityhomes are two-storey condominiums that include deeded parkade parking with private, direct street-level access to residences in addition to interior access.

Townhomes are blocks of freestanding three-storey residences with private street-level attached two-car garages.

A: Yes, depending on the stage of construction your home is in at the time of purchase.

For pre-construction condominiums, selection of colour, finishes and upgrades begins shortly after construction commences.

If you are moving into a quick possession home, our professional interior design team will have selected some or all of the colours and finishes for your new home.

A: Every residence at Fish Creek Exchange comes with a 1-2-5-10 New Home Warranty Certificate through Travelers Canada, a leading Canadian warranty provider.

This extensive warranty covers:

• 1 year for defects in materials and labour
• 2 years for defects in materials and labour related to delivery and distribution systems (including gas, heating, plumbing, electrical and air conditioning systems
• 5 years for defects in the building envelope
• 10 years for structural defects

For additional information please contact the New Home Buyer Protection Office at 1.866.421.6929 or visit their website at www.homewarranty.alberta.ca.

A: Children are welcome to live at Fish Creek Exchange, and small pets are too. Please consult the Condominium Bylaws for more information. Note that Condominium Bylaws are subject to change.

A: Yes, you can receive advanced mortgage approval and rate holds from our preferred lending partner, BMO. Your mortgage payments won’t begin until you take possession of your new home. For full details please contact:

Kanchan Bhatia | Mortgage Specialist Calgary & Area
BMO Bank of Montreal
kanchan.bhatia@bmo.com
403.714.8995

A: Condo fees cover a variety of costs, including:

• Maintenance of flat and cityhome common areas and exterior elements (i.e. landscaping, exterior maintenance)
• Reserve fund contributions
• Most utilities (i.e. electricity for common areas, water, sewer
• Snow removal
• Garbage removal
• Insurance policies
• Property management fees

A: You will receive your keys and title to your home from your lawyer on closing day, approximately four to six weeks after the condominium has been registered.

The moving process will be scheduled in an orderly fashion, beginning with lower floors and progressing to the penthouse floor. During the move-in process, corridors and lobby areas may remain unfinished, with final touches being postponed until the majority of homes are occupied to avoid damage to the final finishes.

A: Closing costs include:

• Any mortgage / bank fees
• Land transfer tax
• Legal fees
• Property tax / condo fees pro-rated until year end

A: Yes, as the homeowner, it is your responsibility to obtain a condominium homeowner’s insurance package that covers your personal belongings.