Strata inspection reports usually involve an inspector going through the different types of records available to them to answer any questions they have to prepare a report.
Types of questions they try to answer in their reports will vary depending on the company preparing the report. However, most would usually try to cover things like;
The finances – Current and proposed levies, capital works fund
The upkeep – Current and future planning, maintenance, repairs, renovations, proposed changes or building work
The legals – Local council notices, orders or changes, current litigation
The insurances – What type of policies and coverage is in place
The records that strata report inspectors go over are usually the ones in addition to a Section 184 Certificate (formally Section 109 Certificate) which is usually supplied by the sellers solicitor / conveyancer.
While the Section 184 Certificate usually shows relevant information about the building’s basic operations and finances, a strata report goes further in depth on other key operations that could otherwise go unrecognised or unnoticed.
Meaning if you don’t purchase a strata report prior to purchasing, you run the risk of finding out about potentially costly problems when it’s already too late.
As you can see, purchasing a strata inspection report and thoroughly reviewing the findings before moving forward with any strata titled property purchase will ensure you’re better positioned for a better buy.
Tip – If you’re looking to get an inspection done before making an offer or purchasing, before arranging any inspections, ask the selling agent if any building, pest or strata reports have been done and how you can access them. This can save you a lot of time, effort, energy and money.
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This information is of a general nature only and does not take into account your objectives, financial situation or needs. We are not financial, legal or tax advisers. You should seek appropriate professional advice specific to you before acting on this information.
