Strata Inspection Reports – Why should a purchaser order a report?
When purchasing a Strata Titled property it is important that you are aware of any special levies, issues and other aspects of the Lot and Strata Scheme (Body Corporate) that that may affect your decision to purchase the property.
The Strata Inspection Report is conducted by way of a Strata Inspector attending the offices of the Strata Manager or the holder of the books and records of the Strata Scheme (Body Corporate) and inspecting those books and records.
The inspector will, from this information, compile a Strata Inspection Report, detailing the finance position, special levies, issues, planned works, by-laws and other associated matters relating to the Strata Scheme.
This Report will be sent to you and your solicitor or conveyancer in preparation for you to sign and exchange contracts (Purchase).
Purchasing a Strata Titled property without a Strata Inspection Report is generally not done.
