We specialise in protecting buyers of Body Corporate managed properties using Body Corporate Inspection Report.
To fully appreciate the need to conduct body corporate due diligence, it is necessary to first consider the nature of a body corporate and what it means to be a member of a body corporate.
Common property is owned by lot owners of a body corporate scheme as tenants in common in shares based on the interest schedule lot entitlements (section 35(1) of the BCCM Act). The body corporate assets are owned by the body corporate beneficially (section 45(1) of the BCCM Act). The body corporate is obliged to administer the common property and the body corporate assets for the benefit of the lot owners (section 94(1)(a) of the BCCM Act). The body corporate also has all the powers of any legal entity including the power to enter contracts, deal with property and engage service contractors. It can sue and be sued.
If a body corporate does not have sufficient funds to pay an expense, it may need to raise additional funds by way of a special levy. If the body corporate is unable to pay its debts as and when they fall due, then under the BCCM Act, a creditor can apply to the Court for appointment of an administrator to perform the body corporate's functions.
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If you are intending to purchase a Body Corporate managed property the protection we provide is to shield you against the numerous pitfalls that arise from mismanagement, outstanding financial exposures, building or property issues and problems, infighting, outstanding legal actions, conflicts over Common Property, aberrant misuse of neighbouring Lots, and destructive or extreme behaviour of fellow owners or tenants, as well as problem neighbours or external community disturbances. In other words we provide you with real insight into your potential purchase. Insight which can either save you from an uncomfortable or unwarranted purchase or which can give you significant leverage for price or purchase negotiation. We specialise in the detailed inspection of Body Corporate Records which disclose such unwanted exposure or risk. Also, we use purpose-built state-of-the-art software to maximise efficiency, accuracy, and consistency. Each and every Report will be detailed and accurate and compiled using PRIMARY sources ONLY! Building and Termite Inspection Reports tell you what you're buying. Body Corporate Inspection Reports tell you what you're buying into! Is there any doubt as to its need and massive benefits to a buyer? |
We carry full Professional Indemnity Insurance.
Costings are a matter of the services requested and will be provided when we contact you upon receipt of your no-obligation request.