The Department of Fair Trading recommends an inspection of the Strata Records before signing a contract. In particular, it recommends to “gain professional advice about the complexities involved in buying a strata unit.  Look at the records of the Owners Corporation.  Know as much as you can about the maintenance of the building and the related costs, and look for any signs that money may need to be spent soon.  There are companies that specialise in inspecting the books.”