10 - 232 Elm Street, St. Thomas, ON

What the record states, and whose record it is

Every value below is a field on this record, formatted, and none of it is worked out by this sheet. Where a row is read off a record of its own, the row says whose.

Type

Condo Apt, Apartment

Bedrooms

1 (1 above grade, 0 below grade)

Bathrooms

1

Year built

Age given only as "51-99"

Heating

Heat Pump, Gas

Cooling

Other

Basement

None

Roof

Flat

Foundation

Concrete

Exterior

Brick

Parking

1 spaces

Waterfront

No

Occupancy

Vacant

Listed by

RE/MAX CENTRE CITY REALTY INC.

Days on site

278

Anything not listed above is not stated on this record. The two sections below name the silences that change a figure or a decision on these sheets.

What the record does not state, and what that costs

Floor area: not stated

The utilities estimate, the insurance premium and the maintenance set-aside are all priced per square foot, so with no area on the record all three are computed against an assumed area for this property type. Three lines of the carrying cost below rest on that assumption rather than on a measurement.

Property tax: not stated

No assessment with a tax bill on the record, so the property tax line below is a fraction of the asking price rather than this property's actual bill. That is a rule of thumb across the province and not this municipality's rate. Ask the listing brokerage for the current bill, and read the figure off it.

Condominium fee: not stated

The fee is one of the largest lines in the carrying cost of a condominium and the total below is missing it entirely. Whatever the total says, it is short by the fee.

Year built: not stated

Age decides which of the wiring, plumbing, asbestos and roof questions on the second sheet apply. With no year on the record those inspections are on the list because the age is unknown, not because anything was found.

PropTx number: not stated

Nothing to quote when you telephone about the property, and nothing to check this sheet against on the board.

What the record does not establish

Each sentence below is the inspection engine's own, unedited. An unresolved fact is not a finding either way: it is the reason an inspection is on the second sheet.

• Not established: no sewer line on the record, so septic cannot be ruled out
• Not established: no sewer line on the record
• Not established: no water source on the record, so a private well cannot be ruled out
• Not established: neither water nor sewage is recorded, so servicing is unknown
• Not established: no floor area on the record
• Not established: no lot size on the record

What it costs a month to carry

With those in, the fuller monthly figure is $498, in a range of $356 to $641 depending on the lines that are bands rather than bills. The two totals are not a disagreement: the smaller one is what a lender counts and the larger one is what the house costs.

What these figures assume, and who chose it

What it costs to close

Ordered by when the money has to leave the account, because that is the only order a buyer can plan in. Every line names its own basis: a statutory tax is an exact figure, a typical range is not.

One-time costs: $6,721. Plus the down payment of $320, which is equity rather than a cost and is not in that total.

• 10 - 232 Elm Street, St. Thomas, ON has no floor area on file, so utilities, insurance and the maintenance set-aside are computed on an assumed 750 square feet. Those four lines move with the real number; the tax, condo fee and financing lines do not.
• No assessment record for 10 - 232 Elm Street, St. Thomas, ON and no rate on file for its municipality, so the property tax line falls back to 0.70% of the price a year. That figure is a GTA rate. If this address is not in the GTA the line is likely to be low rather than imprecise, by a third or more.
• This is a condominium unit with no maintenance fee on the listing. A common expense fee can be the second largest line after the mortgage, so the monthly total below is understated by whatever it turns out to be.
• The one-time list excludes the down payment of $320, which is equity rather than a cost, and excludes the closing statement's cash cushion, because the maintenance set-aside above already holds one. Cash to close, with the down payment in it, is $7,065.
• Do not waive a condo condition without a lawyer's review of the status certificate. Reserve fund shortfalls and pending special assessments are found nowhere else.
• Closing costs come to 420.1% of the price here, well above the 1.5% to 4% a buyer usually plans for. Read the itemization before you set your budget.

What needs inspecting, and by when

12 inspections are called for by this record, of which 3 are the set this sheet treats as not optional. Together those 3 come to $1,200 to $2,400, and the longest of them takes 14 days from booking to a report you can act on. No condition deadline was supplied, so nothing here carries a booking deadline and none of it should be read as saying there is time. The second sheet is the walk-through, in the order you will be standing in the rooms.

• This listing record does not establish everything: no sewer line on the record, so septic cannot be ruled out; no sewer line on the record; no water source on the record, so a private well cannot be ruled out; neither water nor sewage is recorded, so servicing is unknown; no floor area on the record; no lot size on the record. Anything below marked "Not established" rests on that gap, not on a finding, so it is not preselected and not in the total. Ask the listing agent, and treat what they say as unverified.
• No condition deadline given, so nothing here has a book-by date or a fit. The lead times below are the whole reason to enter one.
• The house is on record as heating with something other than oil, and it predates 1980. The conversion from oil is exactly when a tank gets abandoned in place, and no listing record discloses a buried one. Ask the seller directly, in writing.