Hi all
I am finally looking at purchasing our first IP in Victoria (finance has been organised and we are ready to go!!) We have found a suitable place in a block of three units. The only common property is the driveway and front garden.
The s32 says there is a owners corp but it seems to be looked after by one of the other owners. The s32 says in handwriting that the body corp is inactive and the insurance is the only correspondence (which goes to the other owner). There are no owners corp fees or anything.
So obviously this other owner just organises the insurance and seeks payments from the other two units when it's due but that's it - no meetings, maintenance fund etc etc.
Is that normal given that there are only three units? I only query this cause it looks like the side fences (along the driveway) might need replacing/fixing soon.
Would appreciate any advice. And is this something a conveyancer could advise on?
Cheers
Binx
I am finally looking at purchasing our first IP in Victoria (finance has been organised and we are ready to go!!) We have found a suitable place in a block of three units. The only common property is the driveway and front garden.
The s32 says there is a owners corp but it seems to be looked after by one of the other owners. The s32 says in handwriting that the body corp is inactive and the insurance is the only correspondence (which goes to the other owner). There are no owners corp fees or anything.
So obviously this other owner just organises the insurance and seeks payments from the other two units when it's due but that's it - no meetings, maintenance fund etc etc.
Is that normal given that there are only three units? I only query this cause it looks like the side fences (along the driveway) might need replacing/fixing soon.
Would appreciate any advice. And is this something a conveyancer could advise on?
Cheers
Binx
