Ottawa Real Estate Investors Organization

I was wondering if anyone had purchased a condo that was GOING TO have a special assessment coming up. So far there is no special assessment (but work has been ordered by the fire marshal and so it will be started in the near future).

My question is at what point would the special assessment be considered in the statement of adjustments? I ASSUME that if the special assessment is charged before the purchase date, then the existing owner will be responsible for it. However, it may be raised but NOT DUE until after the purchase date.

It should be between $1000 and $2000 so not enough to stop me from buying the unit I am interested in. I have a July closing date. So there is a chance the amounts involved will be known prior to closing. However it might be due after or due on a monthly basis.