Free Pre-Purchase Checklist

Why Due Diligence on a Body Corporate Property Is Different

Buying into a body corporate (strata title, owners corporation, or community title) means buying a share of a collective. Along with the property itself, you inherit the body corporate's financial health, any deferred maintenance, the quality of its governance, and the decisions of every other owner. A property with a deficient sinking fund, ongoing disputes, or poorly maintained common areas can cost you far more than the purchase price difference between it and a better-run building.

Standard building and pest inspections cover your lot but tell you nothing about the collective. You need a separate set of checks focused entirely on the body corporate itself.

All lot owners — including prospective buyers via a strata search — are legally entitled to most of these documents under state legislation. A conveyancer or strata inspector can obtain them on your behalf if you are not yet the owner.