Agent refusing to tell us body corporate rates

[stevie_sloth]

We looked at a property a few weeks ago, liked it and so enquired about the body corporate rates. We obviously need to know how much they are so we can work out if we can afford to pay them if we were to buy the property ($30 a week is average for similar properties in the area, but who knows. If it was $50+ then we couldn't afford to live there).

The agent said he would have to get some sort of disclosure statement from the body corporate and pay a $99 fee to do so, and unless we were serious buyers, he wasn't prepared to do that.

So. What the hell is that? Most agents tell you the body corporate rates in the online description of the property so you don't even NEED to ask, or if they don't, they know it and tell you when you DO ask!

Imagine not being able to tell potential buyers this simple figure that they would need to know to determine whether or not to even consider buying the property!!

If all agents must obtain this disclosure statement and pay $99, well...then they must all DO that, right? And does this also mean that nobody else before us had ever enquired about the body corporate rates if this agent hadn't obtained such a disclosure statement prior? Maybe he just told any other interested parties the same thing...

Also, why not just ASK the owner! Surely they'd know what they pay...

 

[Aaron_C]

That's a bit ridiculous - it should always be disclosed.

 

[stevie_sloth]

YEAH!! Thank you! Good. I was wondering if we were being stupid in our opinion of this.

The agent who showed us this property is actually quite nice, but he's not the agent who is actually selling it. The selling agent (an older, superior agent who is the "principal" of the real estate agent company) is the one who's stupid.

 

[kittykat]

You can't sell a property with a body corp without a disclosure statement, so it's unusual to see an agent who hasn't organised it already. I find it unusual as that process could easily hold up a potential contract for at least 48 hours.

At the office that I work in, we don't even advertise a property as being for sale without one.. just in case!

 

[bellz]

In Qld, it is up to the Seller to provide this, so the agent is talking out of his **** in my opinion.

 

[jaycee]

You can't sell a property with a body corp without a disclosure statement, so it's unusual to see an agent who hasn't organised it already. I find it unusual as that process could easily hold up a potential contract for at least 48 hours.

At the office that I work in, we don't even advertise a property as being for sale without one.. just in case!

Although it might be wrong.. do you really think it's that unusual ?

 

[stevie_sloth]

I just think it's ridiculous. It's hard enough to sell a property in this current market, let alone creating more reasons for prospective buyers NOT to purchase the property by refusing to give them the information they need!

If I were the seller, I'd get a new agent immediately.

 

[kittykat]

Although it might be wrong.. do you really think it's that unusual ?

Well, odd at least.

If my agent didn't know the answer to what must be a frequently asked question, it would make me wonder about the service they are providing.

 

[jaycee]

I just think it's ridiculous. It's hard enough to sell a property in this current market, let alone creating more reasons for prospective buyers NOT to purchase the property by refusing to give them the information they need!

If I were the seller, I'd get a new agent immediately.

If it was just an average property with nothing special standing out about it / it's potential, it would sway me to walk away, just like you do at a shop when it's too hard....... the owner knows the strata fees, it costs the agent nothing to pass them one... pretending that there is more involved than asking "how much are the strat fees ?" and telling the buyer makes me wonder what the agent is thinking

 

[Ed Barton]

We looked at a property a few weeks ago, liked it and so enquired about the body corporate rates. We obviously need to know how much they are so we can work out if we can afford to pay them if we were to buy the property ($30 a week is average for similar properties in the area, but who knows. If it was $50+ then we couldn't afford to live there).

if you can't afford to live there if the bc rates were $50pw then you can't afford to live there if they were $30, or none for that matter.

 

[jaycee]

if you can't afford to live there if the bc rates were $50pw then you can't afford to live there if they were $30, or none for that matter.

Regardless... the point is the kid just wants the informatino so that he can work out what he needs to like we all do when considerting purchasing something.

 

[Ed Barton]

Regardless... the point is the kid just wants the informatino so that he can work out what he needs to like we all do when considerting purchasing something.

i think that's been answered.

i was adding that if such a small difference breaks an OO deal then it's probably not wise to proceed.

edit - maybe stevie phrased it wrong. perhaps it wouldn't break the deal, just not make it a good one.

 

[jaycee]

i think that's been answered.

i was adding that if such a small difference breaks an OO deal then it's probably not wise to proceed.

edit - maybe stevie phrased it wrong. perhaps it wouldn't break the deal, just not make it a good one.

yes, maybe....

 

[INVSTOR]

I always find it's pretty easy to get that info from googling the address

 

[Ed Barton]

yes, maybe....

the link to the property in another thread indicates that it's likely to have high bc fees. well, large maintained common areas and a pool. at least i didn't spot a lift!

if an agent won't answer a question it's usually because they know you won't like the answer, rather than them not knowing.

 

[Aaron Sice]

sale of strata titled properties require the BC fees be disclosed as part of that lovely yellow booklet.

 

[jaycee]

the link to the property in another thread indicates that it's likely to have high bc fees. well, large maintained common areas and a pool. at least i didn't spot a lift!

if an agent won't answer a question it's usually because they know you won't like the answer, rather than them not knowing.

Yeah what a stand up business practice !!!!!

 

[Mick C]

...i remember one time where i range a agent about the strata fee, she kept on saying she will only tell me if i come and visit the property first, spent like 15 min on the phone just to find out about the strata fee.. end up looking at the property and found out strata was more then $2000 PQ


lesson learnt, just hung up next time and move onto the next property.

Regards
Michael

 

[Aaron_C]

...i remember one time where i range a agent about the strata fee, she kept on saying she will only tell me if i come and visit the property first, spent like 15 min on the phone just to find out about the strata fee.. end up looking at the property and found out strata was more then $2000 PQ


lesson learnt, just hung up next time and move onto the next property.

Regards
Michael

LOL $2,000 per quarter...did the complex have lift buttons made of gold?

 

[stevie_sloth]

Actually, that's not the property I was referring to in this particular thread.

That property has BC fees of $40. (apparently)

Also, to clarify a little about the breaking the deal over BC fees...we are on a restricted income...basically we CAN afford $50 a week, but it's pushing it. We would much PREFER $20-$30 a week (we don't need gorgeous gardens or a pool. It just so happens many properties we like for other reasons tend to have these things also), and $60+ a week is not good for us.

Right now we pay $62 a week. When we moved in 3 years ago, we paid $42 a week. How much more will it increase in the next year? Who knows. That's another reason we want to keep the rates down when we first buy a place...so we have a bit of a buffer zone when and if they do go up...