Selling Unit, Flat, Townhouse

Home>Property Law>Selling Unit, Flat, Townhouse

Things to consider when selling any property include:

  • legal advice;
  • chattels and fixtures;
  • land measurements;
  • restrictions;
  • easements;
  • renovations, extensions and recent building work;
  • lease;
  • rates and taxes;
  • connection of services;
  • zoning and town planning;
  • auction or private sale;
  • access to property;
  • release of deposit;
  • certificate of title;
  • representations; and
  • capital gains tax.

Also Consider When Selling Unit, Flat or Townhouse:

  • COMMON PROPERTY: Is there any common property on the Plan of Subdivision?
  • INSURANCE – COMMON PROPERTY: Has the Owners Corporation complied with its obligations to insure the common property? Are there any special levies applicable? Is the Owners Corporation suing a member of the Owners Corporation or being sued? Does the Owners Corporation insurance also cover the buildings as well as the common property, or is each individual owner responsible for their own building insurance?
  • RULES: Are there any additional Rules of the Owners Corporation?
  • OWNERS CORPORATION MEETINGS: Do you have a copy of the Minutes of the last meeting of the Owners Corporation? Are there any proposals or agreements in place which could possibly affect your enjoyment and use of the property?

NOTE: This is information of a general nature only and cannot be relied upon as all encompassing. You must seek legal advice specific to your purchase and never commit to an agreement unless you have obtained that legal advice. Contact us for further information.