Sharon at Pure Conveyancing explains the importance of having a Body Corporate Records Inspection Report special condition in a Contract of Sale in favour of a Buyer when purchasing Residential property in Queensland.

The terms ‘Strata Inspection Report’ is used in NSW and is the same as ‘Body Corporate Records Inspection Report’ which is the term used in QLD.

For the purpose of explaining what the report means in this video, the reference is to the wording of ‘Strata Inspection Reports’.

A Strata Inspection Report condition needs to be inserted into the special condition section in a Queensland Contract which needs to specify a time period of it being completed to the satisfaction of the buyer.

In NSW, a Strata Inspection Report can be completed within the 5 business day cooling off period or before the purchaser signs the Contract.

It is not a standard practice in NSW Contracts to include a strata inspection report special condition.

However, in Tweed Heads where our office is located, the majority of NSW Contracts are negotiated with strata inspection report conditions probably because we are on the border of Queensland and it is expected to follow suit of Queensland, by having special conditions provided in favour of a buyer after they sign a Contract.

Any other locality outside Tweed Shire, a strata inspection report special condition is not usually accepted to be included in the Contract by a Vendor.

DISCLAIMER - This video is for general advice only and should not be considered legal advice. Reference to Body Corporate Records Inspection for a QLD Contract or a Strata Inspection Report for a NSW Contract should only be attended to by an experienced legal representative looking after your Conveyancing matter.

If you would like Sharon at Pure Conveyancing to handle your Conveyancing matter, please contact her as follows:

www.pureconveyancing.com.au
sharon@pureconveyancing.com.au
Phone: 0423 007 828

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