How do strata documents affect a purchase?

They change what you are buying, and sometimes what it is worth. The Form B states the strata fee, the contingency reserve balance, any special levies, and what parking and storage actually come with the unit — which is not always what the listing says. The depreciation report projects what the building will need over the next 30 years and how it is expected to be funded; a thin reserve beside a long list of upcoming work is a future cost to you, not to the seller.

Council minutes are where problems appear first, usually months before they become a levy. Bylaws decide whether you can rent, keep a pet or renovate. This is why an offer on a strata property normally carries a subject clause for reviewing the documents: it gives you a defined window to read them and to walk away if what they show is not what you expected.