What a rat’s nest of issues!
First for strata owners who have bought in, with strata inspection reports, not suspecting a problem. They are on their own financially, needing to to fund the re-cladding by special levy or owners corporation loan or both.
Second for strata owners selling – now the problem is in the public domain, it devalues their property in the eyes (and wallets) of prospective purchasers.
Third for buyers – does the seller have a duty to disclose the problem and potential outlay, or is it caveat emptor – buyer beware, and no complaint can be made once the ink is dry on the Contract for Sale?
Watch this space for attempts by buyers to walk away from Contracts for Sale on the basis of non-disclosure of the cladding by a strata owner seller.