Sam Saad

And then the next thing they knew was they'd walked into a strata building that had a very small sinking fund.

The sinking fund is what's needed to maintain the upkeep of the major expenses of the building.

And what happens is when you've got that sinking fund so low, the strata committee or the owners corporation will have to raise what they call a special levy to cover those costs.

And if that happens, then ultimately all the owners in the building are going to have to front up additional costs on top of their quarterly levies that they pay already to cover that sinking fund and be able to pay.

So if you don't do that few hundred dollar check with a strata report prior to going to an auction or buying a property.