› Flat Chat Strata Forum › Finance, budgeting and loans › Negative EOFY balance in admin fund › Current Page
Can a buyer having done their strata search showing continuous negative balance in Admin due to SC/OC not rectifying the deficit (but proceeded with the purchase) at a later time take legal action against the OC?
Any “interested party” – owner or tenant – can take action at Fair Trading and NCAT at just about any time for just about anything.
As a new purchaser, you could wait until the next three-month deadline clicked over and then reasonably argue that you thought the discrepancy would be corrected. But then you would probably have to pay your share of the make-good levies too. You could try to calculate how much that special levy would be and have it taken off the purchase price before you bought.