FAQ

Frequently Asked Questions (FAQ) for Potential Purchasers

Can I get more information about building defects or remedial works?

Any available defect or remedial reports have been attached in the Strata Inspection Report. For detailed information or updates on specific issues, you should consult the strata manager or refer to the building defect and remedial section of the report.

What is the current financial state of the owners' corporation?

The financial information, including the balance of the administration and capital works funds, is provided in the report. If there are deficits, special levies, or financial concerns, they are also highlighted. Please review the financial summary for detailed figures.

Are there any current or future special levies?

Information on current and upcoming special levies is detailed in the financial section of the report. Special levies are imposed to cover unexpected or major expenses not included in the regular budget. If any future levies are proposed or planned, they will be outlined in the minutes of meetings attached to the report.

What are the quarterly levies, and how are they determined?

Quarterly levies are determined based on each lot’s unit entitlement. This information is provided in the financial section of the report. The amount reflects the property’s share of common expenses, maintenance, and other running costs.

Is there any ongoing or upcoming major maintenance work?

Any significant maintenance or repair work, including upcoming projects funded by the Capital Works Fund, is documented in the meeting minutes attached to the report. Please refer to the Capital Works section for more detailed information.

Is the building properly insured?

Yes, building insurance details, including the insurance company and policy number, are provided in the report. We confirm whether the building valuation and insurance certificate have been sighted.

Are pets allowed in the building?

The pet policy for this building complies with NSW strata laws. Pets are generally allowed unless they pose a nuisance or hazard to others. For specific details, refer to the by-laws section of the report.

What are the recent decisions from the Annual General Meeting (AGM)?

The minutes from the most recent AGM, along with any other relevant meeting minutes, are attached to the report. These documents provide insights into decisions regarding financials, maintenance, and other important matters affecting the strata scheme.

What happens if there are safety or compliance issues?

Any compliance certificates, including Work Health & Safety (WHS) and asbestos reports, have been included in the report if available. The strata committee is responsible for ensuring the safety of common property and compliance with legal obligations.

Who do I contact if I have more questions about this property?

For further inquiries, you can contact the strata manager listed in the report or consult with a professional such as a lawyer or builder, especially if you have concerns about defects or major works.

Should I buy this property?

Whether or not you should purchase the property depends on a variety of factors, including the financial health of the owners' corporation, the condition of the building, any upcoming repairs or levies, and your own personal situation. It is recommended that you review the entire strata report, consult with legal or financial advisors, and possibly seek expert advice from a building inspector or construction expert before making your decision.