4 Steps to Take for a Successful Strata Records Inspection with Amanda Farmer

Have you ever considered purchasing a strata property but then
got fazed by how different it is from buying a house?


There’s a whole additional layer of due diligence that needs to
be done and before you get elbows deep in a property, inspecting
strata records should be your first course of action.


Amanda Farmer of Your Strata Property shares her
expertise in strata & community titles law. We talk about why
you must start with records inspection before buying, the 4 steps
she takes for a successful strata records inspection, a brief
look at the 101s and much more!


If you enjoy the show, do like, rate, subscribe, and share it
with others! We have loads of resources available and if you’d
like to chat, email us at support@homebuyeracademy.com.au!


We are also holding a live Where to Buy Workshop - Investor
Edition later this evening, Nov 24, 2021, 7-9PM AEDT (6-8PM
Brisbane time)! If you want to join us, check out the link
here!


We’ll see you on the inside!


 


Episode Highlights:
The Rollercoaster Apartments in Vietnam
[03:52] You must always start with the inspection
of records before buying [05:30] Strata 101 for
first home buyers [06:21] How do you know if the
records you’re getting are complete & correct?
[10:16] 

Who makes up the body corporate of strata apartments?
[11:13]

Why buyers MUST examine strata records
[13:06] Step 1 - Request to see the records
[18:04] Get advice from someone who truly
understands strata [22:02] Step 2 - Understand
what should be there when you inspect strata records
[24:22]

Why do forecasts and the capital works fund go hand in hand?
[26:54]

What does Amanda look for in terms of strata compliance?
[32:56]

Buying old vs. new buildings [34:45]

Step 3 - Understand the misconceptions when it comes to
records inspections [38:18] Step 4 (for owners) -
Request for any missing records you want to see
[44:57] Step 4 (for buyers) - Ask an adviser if
record details make you uncomfortable [46:00]
Don’t be afraid to invest in strata (with the right knowledge)!
[48:35]

 


Links from the Show:


Successful Strata Records Inspections by Amanda Farmer

Episode 68 | How bad can things go with buying strata
property | Karen Stiles, Owners Corporation Network of Australia

Episode 87 | Building approvals, conflicts of interest &
who’s to blame for construction issues? | Kerry Hunt, Manager
Building Construction Team

Episode 103 | Strata owners - rights & obligations |
Amanda Farmer, Your Strata Property

Episode 106 | Dodgy developers & Strata Living | Jimmy
Thomson, FLAT CHAT

Episode 113 | What’s behind the wall?: 85% of developments
have defects | Dr. Nicole Johnston, Deakin University

Episode 176 | Developers are in the Government’s crosshairs |
David Chandler, NSW Building Commissioner



 


About Amanda


Amanda Farmer provides upfront, no-nonsense legal advice and
representation via her legal practice, Lawyers Chambers. As a
Fellow and Council Member of the Australian College of Strata
Lawyers, she is recognised by her peers as an accomplished
professional in the area of strata and community titles law.
Amanda advises and represents owners, buildings, developers,
strata management companies and local councils. She is also the
host of the Your Strata Property podcast.


 


If you enjoyed today’s podcast, don’t forget to subscribe, rate,
and share the show! There’s more to come, so we hope to have you
along with us on this journey!


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