Looking at buying a half duplex in need of some updating and TLC.
Problem is .. all the land the duplex sits on (800sq), bar each unit and 2 metres around is owned by the body corp as common. The duplex is to one side of the block and the unit we are buying has a larger land share our side, enough for a small shed and gardens.
We are hoping to get this unit for a good price and then try to get the boundaries redone spitting down the middlle and each have separate title.
How difficult would this be to do. Both in paperwork, time, money, council etc.
The other unit is owned by an elderly lady and she considers the other side belongs "to the other side". We are hoping she is happy to see this done as she at present organises mowing etc on the whole block. There would be a money exchange of approx $15,000 in her favour, worked out on sq metre-age for the area in question to make all things equal.
Anyone done this ?
Problem is .. all the land the duplex sits on (800sq), bar each unit and 2 metres around is owned by the body corp as common. The duplex is to one side of the block and the unit we are buying has a larger land share our side, enough for a small shed and gardens.
We are hoping to get this unit for a good price and then try to get the boundaries redone spitting down the middlle and each have separate title.
How difficult would this be to do. Both in paperwork, time, money, council etc.
The other unit is owned by an elderly lady and she considers the other side belongs "to the other side". We are hoping she is happy to see this done as she at present organises mowing etc on the whole block. There would be a money exchange of approx $15,000 in her favour, worked out on sq metre-age for the area in question to make all things equal.
Anyone done this ?
