Building Convenant on Title

[Tonibell]

A property we were looking at purchasing has a building convenant from when it was sold by the Department of Housing in 1973.

The Housing Commission of NSW can release the requirement.

Just wondering if these is something that is routine for them to do or whether it is an absolute red light for purchsing the property.

Appreciate hearing from anyone with experience with this.

 

[Raddles]

what does the building covenant say - would it affect your plans?
a building covenant can sometimes be a positive thing - meaning a consistent approach to building in your area

 

[Tonibell]

Nothing positive in this - I've attached the relevant section (I think), but basically stops any building - even a fence.

 

[DaveM]

Ouch. Thats a nasty covenant. If purchasing, make the completion of the contract subject to the covenant being lifted.