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Phil T

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  • 23/08/2011 at 12:27 pm in reply to: Strata report – unreadable, and admin fund doesn’t look right #13593
    Phil T

      Just to update you all, I've formally withdrawn my offer for this apartment after having spoken to my solicitor.

      The (now readable) strata report turned out to be nearly 200 pages (!) and one of the main issues was the shoring up of the piers at construction time apparently is encroaching on a neighbouring property. That alone definitely sends alarm bells ringing in my opinion, given the legal action is still ongoing (8 years plus it seems).

      So off I go looking for a better strata to buy into (and the dot disappearing over the horizon is now myself).

      Thanks for the replies to date.

      –Phil.

      22/08/2011 at 12:02 pm in reply to: Strata report – unreadable, and admin fund doesn’t look right #13584
      Phil T

        JimmyT said:

        Now I have a question for you: do you really want to buy into this building?  Unless I could see what the problem was and how to fix it easily, that dot disappearing over the horizon would be me.

        I am at a crossroads with this property, and whilst it does appear to be a nice place at what I think is a reasonable price (city skyline/harbour views are a bonus, especially come New Year's Eve!), realistically I am prepared to walk away from the whole thing and start searching again for a property should the report come back as negative/detrimental (not really fond of having to pay a possible special levy either should the worst happen).

        The admin fund being in debit certainly doesn't instill any confidence in my trust of the management of the strata budget either, but given the legal action I am guessing this situation may have been brought about by it.

        –Phil.

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