strata / company title
- Thread starter tj22
- Start date
Except in exclusive buildings like the Astor Apartments in Macquarie St Sydney where you are rubbing shoulders with QCs, Judges, CEOs etc, they pick and choose who they will accept to be a director in their company titled building
It's more than just the cost. You need to understand that you are not buying the same thing if it's on strata title as opposed to company title.
You really need to know the difference.
Sale contract will tell you
do you know which page it is on? because i'm in Queensland and filled out a contract of sale today with the REA and he could not show me where it was..
i had a quick look and couldn't see anything ( i didn't have a good look though)
Erm, do you know what you were looking for? Do you know what a "normal" set of sale documents look like?
i was looking for somewhere where it said title and the REA said it doesn't show it on this contract if its a strata / company. and not really i'm a first home buyer... thats why i've asked the question...
I'm thinking the property i looked at was company and the agent doesn't want me to know this, yea i'll just ask my solicitor next time i talk to him.
There are occasions where the contract hasn't clearly labelled the title as Company Share / Strata / Stratum. If this is the case I usually carefully read to see how the lots are split up and how the common areas are shared as this will tell you which title it is. In my experience it's usually Stratum and Company Share that have documentation issues more so than Strata.
That being said, there is a chance that the REA genuinely doesn't know and would have to find out for you. It is his job to find out, and he can't falsely represent this title as that's breaking the REA Act.
That being said find a conveyancer/solicitor that is happy to review the contract for you for free on the basis that you'll use them when you finally do purchase.
This way you save yourself the headache and risk of a) Doing it yourself and b) Trusting the Selling Agent.
PS - Don't buy it if it's Stratum or Company share... There are lending restrictions on these titles and can be a FHB's worst nightmare.
That being said, there is a chance that the REA genuinely doesn't know and would have to find out for you. It is his job to find out, and he can't falsely represent this title as that's breaking the REA Act.
That being said find a conveyancer/solicitor that is happy to review the contract for you for free on the basis that you'll use them when you finally do purchase.
This way you save yourself the headache and risk of a) Doing it yourself and b) Trusting the Selling Agent.
PS - Don't buy it if it's Stratum or Company share... There are lending restrictions on these titles and can be a FHB's worst nightmare.
