What does a Strata Report say?

Recently, there have been problems with the building quality of several buildings in Sydney, Australia. Now, for everyone, buying strata title properties is a lingering fear.?

Then I will share my experience as a member of the property owner, committees of several buildings and my experience as a real estate agent for more than ten years.?

A strata report is composed of many aspects, including the following three elements:

First, what is the financial situation of the building?

Second, the situation of maintenance?

Third, any court issues and matters?

A strata report probably costs around AUD 249, but what you buy is assured and comprehensive.

Just like when you buy a second-hand car, if you buy it based on your feelings and your observation of the appearance, then the seller has already done decorations and tricks where people see it.?

However, problems often appear in places that you can't even notice or see.

First of all, financial statements.

That is, the profit and loss situation and shortages of the annual financial statements, are also at a glance. People with little financial knowledge can understand it.?

Secondly, the maintenance of a building included.

Because every maintenance, there must be a record on a strata report, whether there is a large amount of water leakage, the elevator is out of operation, and whether there is a CCTV, it all shows up.

Finally, there is a legal case. Some buildings are still in litigation with the builders or have received a sum of legal fees. It is very worrying to pay these pending attorney fees.

There are hundreds of pages in a report. This article cannot cover everything.?

Therefore, my recommendation is that no matter what kind of property you buy, how new or old, you have to let yourself buy a property report (Building report or Strata report.

If you buy a detached house, you should buy a building report instead of a strata report.