I see many properties for sale which have a strata report supplied by the owner. The question I pose is, if you were the vendor, would you commission a report that paints an adverse picture of that strata?.
Hi Kaindub, thanks for your reply. I appreciate all your contributions to this site! I think we have a different understanding of the strata report. In Vic, the report completed by the OC manager includes all lot-specific things like levies owing and the like, issues specific to the lot or affecting the lot, special levies struck, anticipated future levies based on the current financial condition, the most recent minutes from the OC and details specific questions and answers which any reasonable buyer might want to know before committing to purchase (e.g. our most recent sale included a transparent but unhelpful (for us) statement from the OC manager that there was a cladding issue on site – albeit it did not affect our unit). The information supplied also includes the full maintenance plan for the site which looks at all the nooks and crannies of the complex. So the vendor pays for this information once and it is available to all potential buyers at no cost as part of the vendor statement. I think this is fair, reasonable and transparent for all. There is no need for any buyer to pay for such a report unless they are under contract and need an updated financial position prior to settlement.