Why Get a Pre Purchase Strata Inspection Report?

Why Get a Pre Purchase Strata Inspection Report?

Sydney business conveyancing services.

It is advisable to obtain a pre-purchase strata inspection report before you enter into a contract to purchase a strata title property in Sydney NSW. The information found in a strata report is not normally disclosed in a contract for sale and is useful to help you decide whether to go ahead or not.

What is in a strata report?

  1. quarterly contributions to the administrative and capital works fund;
  2. the strata plan’s financial records and financial position;
  3. the history of building repairs and maintenance;
  4. scheduled future works and costs;
  5. the most recent minutes of meetings and resolutions;
  6. whether the Owners Corporation is involved in litigation or disputes with others;
  7. compliance with fire safety and swimming pool safety.

If you are selling a strata property in Sydney NSE, you are not obligated to provide a Strata Inspection Report as part of the contract to potential buyers.

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