Statutory Warranties in a Body Corporate
Statutory warranties in a body corporate relate to section 223 of the Body Corporate and Community Management Act 1997 (BCCM Act), the provision titled “Implied Warranties.” A statutory warranty is a legally mandated guarantee established by law or specific state legislation. In Australia statutory warranties commonly aim at consumer protection and section 223 Implied Warranties […]
Buying into a New Body Corporate: What Issues to Look For
A pre purchase strata report is a review of body corporate records for a specific scheme to, at best, give buyers peace of mind they’ve chosen well, and at worst to allow them to walk away from difficult situations. But when you’re buying into a new body corporate, there’s an obvious problem: there aren’t many […]
How Much Should Be In A Body Corporate Sinking Fund?
How much should be in a body corporate sinking fund? $50,000, $100,000, or $1 million? As, with most things in body corporate the answer depends on several factors. What is the Sinking Fund for? A sinking fund is a capital works savings account. In NSW it’s referred to as a capital works fund but it’s […]
Body Corporate Records Search
A body corporate records search, or pre purchase strata report, is a review and report on the subject body corporate records aimed at highlighting risks in the complex that might negatively impact a buyer. Buying property, like every investment, comes with certain risks. The property might have termites, or subsidence or any number of other […]
“Additional Contract Information” Implied Warranty Search
The “Additional Contract Information” portion of the sales contract for units is required due to section 223 BCCM Act. This states that the seller warrants to any buyers that the common property of the body corporate is free from latent and patent defects except for fair wear and tear and what is disclosed in the […]
Form 2 Seller Disclosure Statements for House Lots
We are not completing form 2 seller disclosure statements for both lots in a body corporate and house lots. All documents are complete, fully compliant, and ready for contract. Form 2 SDS – Lots in a body corporate – $600* including all searches and GST Form 2 SDS – House lots – $450.00* including all […]
How to Order Form 2 Seller Disclosure Statement or Body Corporate Certificate
The form 2 seller disclosure statement including body corporate certificate replaces section 206 disclosure statements from 1/08/2025. Mybodycorpreport.com.au will be preparing complete form 2 seller disclosure statements, including the body corporate certificate. We will also be facilitating order of body corporate certificates. Our pricing can be seen here. Keep reading to find out how to […]
Pricing for Form 2 Seller Disclosure Statement and Body Corporate Certificates
S206 disclosures will be ending soon and from 1/08/2025 a Form 2 Seller Disclosure Statement will need to be given to the buyer prior to any contracts for sale of property being entered in Queensland. I am pleased to present mybodycorpreport.com.au pricing for purchase of documents for completing seller disclosure under the new seller disclosure […]
Welcome Body Corporate Certificates: Goodbye Section 206 Disclosure
From 1st August 2025 body corporate certificates will replace section 206 disclosure statements. The change is more extensive than just the change of disclosure types with contracts for sale of property in Queensland soon needing to be accompanied by a form 2 seller disclosure statement which will include the body corporate certificate. This applies to […]
14 Examples of Corruption, Coercion & Bad Behaviour in Body Corporates
I know I spend a lot of time focussing on the negatives of body corporates, and clearly this article about corruption in body corporates is not going to be any different. I do have a purpose here though, I’m building a library of information to help people navigate occasionally murky body corporate waters. To be fair, […]