Property documents are written for the professionals who produce them, not for the person spending a million dollars on the strength of one. These are the terms buyers stop on — what each one means, and what to ask about it.
Dr means debit. Next to a fund balance it usually means the fund is overdrawn — the single most misread abbreviation in a strata report.
One pays this year's bills, the other pays for the roof in nine years' time. Confusing them is how a scheme that looks solvent turns out not to be.
Usually whoever owns the lot when each instalment falls due — which after settlement is you, unless the contract says otherwise.
The owners corporation's official statement of what a lot owes — levies, arrears and fund balances, as at the date it was issued.
The council's statement of what planning rules apply to a property — zoning, overlays, and hazards like flood or bushfire.
It waives it entirely. Signing one means you lose the five-business-day right to walk away, and the 0.25% penalty that comes with it.
It means the building has been identified as having potentially combustible external cladding. What matters next is whether anyone has costed the fix.
Yes. It is the inspector telling you there is a hole in what they were able to check, and the hole is usually where the trouble is.
There is no legal minimum. The benchmark is the scheme's own ten year plan — and whether the balance tracks it.
No. It means none were found, on that day, in the parts the inspector could reach. Those three qualifiers are doing a lot of work.
Building reports classify damage rather than pricing it. The classification is the part that decides whether you need an engineer.
These explain the terms in general. A decode finds them in your building, pest, strata and contract reports, with the exact quote and page behind every finding.