What is a Strata Form B and why is it necessary when buying or selling a strata lot?
A Form B – Information Certificate is a strata form that should be reviewed by anyone considering buying a strata lot. The Form B sets out information relating to the strata corporation and its financial affairs including the amount of the strata fees payable, the amounts of any outstanding or approved special levies, whether there are any new bylaws that have been recently approved, how many strata lots in the development may be rented, etc… If you will be getting a mortgage to complete your purchase, your bank will likely require a copy of the Form B.
- What does it mean to own a strata lot?
- What do I have to pay when owning a strata lot?
- What happens when a strata lot owner has fines or penalties and wants to sell their property?
- What is a Strata Form B and why is it necessary when buying or selling a strata lot?
- What are the common issues when buying a strata lot?
- I’ve bought a strata lot – what can I expect going forward?