OK, the first thing you need to know is that the Owners Corporation needs to go ahead and get this fixed. Such is the genius of strata laws in this State that the only people who have to pay for defects, by law, are the victims of shonky developers.
Your choice is whether or not to fight a lengthy legal battle – which will cost you lots of money and the kind of emotional energy you can't even quantify – with no guarantee of success even when you have a watertight case.
I have observed at close quarters a multinational company and a bunch of useless lawyers and worthless so-called experts milk millions out of my neighbours, costing them more in legal bills than they got in payment.
So here is my advice. Get a company like Integrated Buildiong Consultants to come in and tell you how you can get your defects fixed most cost-effectively. raise the money and get it done – at least you will protect the value of your homes. As soon as possible in the process, register your claim for defects.
Then get a good strata lawyer to tell you what your realistic chances are of recovering the money. This may be a fight you can't win so the best thing you can do may be to just save yourself a lot of grief and suck it up.
Meanwhile join the Owners Corporation Network (CLICK HERE). In fact, they are having a seminar on May 28th in Kirribilli so click on that link to fingd out more. Best of luck.