Canít live there - Canít rent it - Canít sell it Most apartment sales are about people moving up but sometimes sales are forced through circumstance other times the owner just needs to off-load the property.   Our reports outline the building history often this history can be quite confronting.    An inner Western Sydney Strata Manager from was attacked after attending a strata meeting.  Walking back to his car he was held down by 2 individuals who proceeded to smash both his knees with baseball bats.   This followed a decision, a vote at the meeting to take legal action against the builder who was also a resident occupying the penthouse in the building.  This resident was the only one who voted against a motion which would result in the builder (him) becoming responsible to correct building defects. The problem arose when Council wrote to the strata and informed them that the building failed to meet fire and emergency regulations.  The cost to correct this was about $250K.  Local Council stated they had never signed off the building for occupation and all units were sold without the correct approvals.  Council now required these works to be done otherwise they would take legal action against the strata and force the owners to move out. The building was covered by the builders warranty and there had been no trigger for the builders insurer to accept a claim for insurance. The builder was solely responsible to fix the problems.  The vote was declared and the builder left the meeting early. After the assault Police were involved but no arrests occured.  The strata manager resigned and no other strata management company was willing to take the building over.  With little resistance the builder began intimidating all owners and they became scared so most moved out.  Apartments vacated were rented but the builder continued his scare campaign so the tenants never stayed past 3 months.  One tenant moved in and moved out a week later! Owners were rightly too scared to live there and tenants would not stay.  Word got around about this horrible place and property values fell as buyers were scared off.  Some owners defaulted on their loans and the bank took possession costing these owners many thousands of dollars.  A few years later the builder was declared bankrupt.  Later that same year he was goaled for this and other offences. He no longer owns the penthouse but the fire and emergency works have not been done and are now estimated to cost over $475K. There is legal action against the builder, the builders insurer, the local council who is trying to evict the owners.  This is a legal nightmare, it is complicated and continues to have an impact on the owners who will pay about $70K each when the building is corrected and the legal fees are fully known.  2 years later it still continues.   Incident 2007 - Media notices and Full PSI history held on file.    If buying a strata apartment a report is essential to be certain you are not getting less than you expect .
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