Strata reports, read with the contract
The strata inspection report, read the way Torri reads the contract — the levies, the fund balance, the arrears, the special levies and the disputes, with what matters lifted to the top.
The contract is only half of a strata purchase
When your client buys a strata lot, the contract for sale describes the lot but says little about the scheme around it. The strata inspection report fills that gap — a searcher goes through the owners corporation's records and writes up its finances, insurance and history. A special levy struck last month, a capital works fund that will not cover the roof, fire-safety orders sitting unactioned: none of it is in the contract, and all of it lands on the purchaser.
Torri reads the strata report the same way it reads the contract. Add the report to the review and the figures that matter are pulled out, explained and flagged — so the strata risk is in front of you before exchange, not discovered after.
What Torri reads in the strata report
- 1
The money
Administrative and capital works levies, the balance of the capital works fund, and arrears on the lot — read against the works the building is going to need, so an underfunded scheme shows up as a risk, not a line item.
- 2
The levies and disputes
Special levies struck or proposed — including one raised before the contract date that a special condition tries to pass to the purchaser — and any legal proceedings or disputes the owners corporation is party to.
- 3
The building
Building defects and fire-safety orders on foot, the state of the insurance, and the major works the inspector picked up in the minutes and quotes — the repairs coming whether or not a levy has been struck for them yet.
Special levies, surfaced with the contract
The levy struck weeks before a sale is one of the oldest traps in strata conveyancing. Torri surfaces special levies with their amount and status, and reads them against the special conditions in the contract — so where a condition tries to shift a levy struck before exchange onto the purchaser, that pairing is flagged, and the adjustment conversation happens while it can still change the deal.
Read as one matter, reported as one
The strata report is not a separate job. You add it to the review and Torri reads it together with the contract for sale, so the report your client receives covers both the lot and the scheme in one plain-English read. What is at risk sits at the top; the detail is behind it, cited to the report it came from.
Where it fits your review
The strata review runs alongside the contract review and lands in the same client-ready report under your firm's brand. You decide what is included and sign it off as yours — Torri does the first read of a document that is easy to skim and expensive to skim wrong.
Questions, answered
What does Torri read in a strata report?
The parts of the strata inspection report that change what your client is buying into — the administrative and capital works levies, the balance of the capital works fund, arrears on the lot, any special levies struck or proposed, building defects and fire-safety orders, upcoming major works, the insurance position, and any disputes or proceedings the scheme is party to.
Does it flag a special levy struck before the contract date?
Yes. A special levy raised before exchange — and any special condition that tries to pass it to the purchaser — is surfaced with its amount and status, so the adjustment is on the table before your client is committed.
Is the strata report review separate from the contract review?
It is part of the same review. You add the strata inspection report to the matter and Torri reads it together with the contract for sale, so the report your client receives covers both the contract and the scheme.
See it on your next contract.
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