Strata Form B is a Requirement of any Whistler Real Estate Contract
What is a Strata Form B? Is a typical question I get asked with every buyer I work with. The strata Form B is a financial snapshot taken on a specific date of both the particular strata lot or unit, and also the strata corporation. Every condominium building and every townhouse development is run by a strata. The ski-in ski-out homes on Snowridge Crescent also have a strata. So, the Form B is a regularly requested document.
Once the offer has been accepted, the form B is prepared by the strata manager. It is then signed off by the strata management company, i.e. the company hired to manage the building and land. It can also be signed by a someone on the strata council, i.e. the group of owners elected to represent all the owners and liaise with the strata management company.
What type of Questions are on the Form B?
The Form B answers a lot of questions for a buyer, e.g. is the parking stall(s) assigned? Is there a storage locker for the unit? The questions pertaining to the strata ask for confirmation as to any judgements or legal proceedings against the strata. Furthermore, it asks for financial and budget figures.
Acting as your real estate agent, I really want you to know the answer to these questions before writing an offer. Typically, the listing agent does not order the Form B until an offer is accepted. This means that it can be tricky getting this information in advance. In that situation, the receipt and approval of the Form B is written into the contract as a subject. This is a condition which must be satisfied by the buyer.
I have added a copy of a blank strata document as provided by the British Columbia Real Estate Association (BCREA) 2018. The form will identify the sort of information that is available to you. Please note the following Form B is a courtesy copy for information purposes only:
In summary, click the link for a clearer version of the Strata Form B. Furthermore, you may be interested in the other frequently asked questions (FAQ). These are on a separate page on this site, please click the following link Buyer FAQ.
Personal Real Estate Corporation
Sutton Group – West Coast Realty
203-1080 Millar Creek Road, Whistler, BC V0N 1B1 CANADA