Too right Whale!
John McGrath (you all know him) said in his book, The Ultimate Guide to Real Estate, he's astounded at the number of people, less than 20% he reckons, who don't get proper inspections, checks and reports before handing over their, often mostly borrowed, money for their new place. In stratas, this includes a proper going-over of Owners Corporation's records by an experienced operator such as (am I allowed to mention?) O'Connors Property Reports who did ours years ago.
In what he calls 'real estate roulette', John McGrath says these checks are a 'very cheap insurance policy'.