Body Corporate Inspections

Leading Reports

Purchasing a property is one of the largest investments you’ll ever make, which is why we provide easy-to-read reports to guide your decision. Our condition reports adhere to Australian Standards and are recognized by real estate agents and solicitors. They offer the peace of mind needed to make an informed purchase decision and can help you avoid costly repairs by identifying potential issues. Trust our detailed and professional reports to support you in making a wise investment.

Contact Info

PRE PURCHASE STRATA REPORTS

Why a Pre-Purchase Strata Report is Essential for Smart Buyers

When purchasing a unit or apartment, you’re not just buying a property – you’re also gaining membership in the body corporate, the entity responsible for managing common property. This membership brings additional responsibilities and potential risks, making it crucial to understand everything happening within the scheme that could affect you.

At Leading Building Inspections, we provide comprehensive pre-purchase strata reports to empower prospective buyers with the information they need to make informed decisions. Here’s what our detailed strata report will include:

Key Inclusions in Our Strata Report

Financial Health of the Body Corporate
- Budget and Funds: We thoroughly examine the budget, including administrative and sinking funds, ensuring there are sufficient reserves for ongoing maintenance and future repairs.
- Levy Contributions: Our report details the levies (fees) you will be required to pay and any upcoming special levies that might be imposed.
Maintenance and Repairs
- Common Property Condition: We review records of past maintenance and planned future repairs to assess the condition of the building and common areas.
- Defects and Issues: Our report highlights any reported defects or major issues that could incur significant costs.
Compliance and Regulations
- Bylaws and Rules: We provide a clear understanding of the bylaws governing the property, including rules about renovations, pets, noise, and usage of common areas.
- Insurance: We verify that the building has adequate insurance coverage, including public liability and property insurance.
Disputes and Legal Matters
- Current and Past Disputes: We investigate any ongoing or past disputes involving the body corporate, helping you gauge potential problems.
- Legal Actions: Our report includes information on any current or pending legal actions that could affect the financial stability or reputation of the property.
Meeting Minutes
- AGM and Committee Meetings: We review minutes from annual general meetings (AGMs) and committee meetings to help you understand the decision-making process and any significant issues discussed.
Renovations and Approvals
- Major Works: Our report details any major renovation projects or upgrades that have been approved or are planned, as these can affect future levies.
- Approval Processes: We explain the process for obtaining approval for any modifications you might want to make to your unit.

The Importance of Our Strata Report

Financial Stability: Ensuring the body corporate is financially sound helps protect your investment and avoid unexpected costs.
Risk Management: Awareness of any disputes or legal issues helps you gauge potential risks and complications.
Living Conditions: Understanding the bylaws and the state of common areas helps you determine if the living environment meets your expectations.
Long-term Planning: Knowing about upcoming maintenance and renovations helps you plan for future expenses and assess the property’s long-term viability.

How We Help You

Request the Report: We will obtain the pre-purchase strata report for you, directly from the relevant sources.
Review Thoroughly: We meticulously analyze the report, focusing on the key aspects outlined above.
Expert Consultation: Our team of experts is available to help interpret the report and identify any red flags.
Clear Communication: We provide you with a clear, concise summary and are always available to answer any questions you may have.

By utilizing our comprehensive pre-purchase strata reports, you can make a well-informed decision about whether the unit or apartment is the right investment for you, ensuring you are prepared for any responsibilities and risks associated with becoming a member of the body corporate.

Choose Leading Building Inspections for peace of mind and confidence in your property purchase.

What Our Clients Say

Pre purchase Strata Reports

Potect Yourself with the Right Contract Clauses

Protect Yourself with the Right Contract Clauses

Real estate sales are market-driven and operate under the principle of “Caveat Emptor” or “Let the Buyer Beware.” If you purchase a property with unforeseen problems, it can be a costly mistake.

Smart buyers safeguard themselves by making their contracts subject to due diligence reports, such as pest inspections. When buying a unit, you’re not only getting a property but also becoming a member of the body corporate, which carries additional risks.

How to Cancel the Contract

To ensure you can cancel the contract if necessary, add a condition to the contract. Here’s an example of how you can do that:

Condition Example: “This contract is subject to the buyer obtaining and being satisfied with the contents of a pre-purchase strata report within [specified time frame].” for correct cantract conditions inclusions we recommed engaging a property lawyer.

If you haven’t included such conditions in the contract, you still have options. Obtain the necessary searches during the Cooling Off Period. This will allow you to cancel the contract if you discover any issues within the body corporate that do not meet your expectations.

Pre purchase Strata Reports

Comprehensive and User-Friendly Strata Reports

Our reports are designed to be easily understood by those unfamiliar with body corporates while still providing all the detailed information a strata or legal professional needs.

What Our Reports Include:

Practical Information: Real property address, lot entitlements, exclusive use areas, and insurance details.
Levy Details: Information on current levies issued, payment status, and levy history.
Special Levies: Details of any special levies raised and indications of whether a special levy might be needed.
Financial Performance: Fund balances and key financial performance metrics.
Legislative Compliance: Compliance with relevant legislation and details of existing contracts.
Dispute Analysis: Thorough analysis of ongoing and past disputes.
Current Matters: Review of current ongoing issues.
Major Expenditure History: Detailed history of major expenditures over the last seven years.

Our goal is to help you determine if this scheme is right for you with a clear, concise, and thorough report that’s easy to read.

Pre Purchase Strata Reports

Frequently Asked Questions

What Do You Actually Do?

When we perform a body corporate records search, we visit the location where the records are stored and meticulously review them. Typically, this involves sifting through hundreds of pages of documents. Our expertise allows us to identify and focus on the important information. We then summarize these documents into an easy-to-read report, highlighting any issues likely to affect lot owners.

How Long Does It Take?

Most pre-purchase strata reports are completed within 5 to 6 business days. Delays may occur if there are issues accessing the records or if demand is exceptionally high. We will inform you about your report’s expected delivery date so you can plan accordingly.

I Have Specific Questions. Can I Ask Them?

Absolutely! If you have specific questions, please let us know. While we look for general issues that could affect all lot owners, your personal queries can give us specific targets to search for. For example, if you are concerned about a building defect or a change that might require approval, inform us, and we’ll investigate those aspects closely.

What If My Contract is Already Unconditional?

If your contract is already unconditional, you won’t be able to walk away or renegotiate based on the report. However, a pre-purchase strata report can still provide valuable insights into the current state of the scheme, helping you understand what to expect.

What If You Can’t Proceed with the Search?

Upon receiving your order, we immediately try to contact the record managers. Occasionally, there may be delays. If we encounter any issues, we will keep you informed. If necessary, we will cancel the order and provide a full refund if you have already paid for the report.

What If the Strata Report Doesn’t Highlight Any Issues?

We can only report on what is contained within the records. If there are significant gaps in the records, we will note them. However, finding “nothing to report” can be a positive sign that the scheme is being managed effectively. A lack of issues often indicates that the chosen scheme is doing an excellent job.

Price Beat Guarantee

Received a quote? We will beat it by 5%! Contact us now to request your quote and enjoy exceptional service at a competitive rate. Don’t miss out on this great deal—call us today.

Fast Turnaround

A pre-purchase strata report is time-sensitive, so we strive to schedule your inspection for the next day after you book. Furthermore, our inspectors aim to deliver your report within 5 business days.

Award Winning Reports

Our reports are designed to be easily understood by those unfamiliar with body corporates while still providing all the detailed information a strata or legal professional needs.

Advanced Technology

We can conduct searches Australia-wide with strata managers who provide electronic access to their records.

Important Reminder:

One Opportunity to Protect Your Investment

Remember, you have only this one opportunity. Once the contract settles, you’re committed—whether the outcome is good or bad. Protect yourself by ordering your pre-purchase strata report now, so you have the option to walk away before it’s too late.