strata home - issues??

[UrbanPlanner]

Just wondering if there were any complications in terms of finance or anything I should be weary of when buying a strata home. I'm about to put in an offer on a strata house in Perth (beats me why its a strata - two completely separate houses, with no common property, own driveways etc) but in any case. Is there anything I should be aware of i.e. do strata's make finance more complicated?

Thanks in advance!

 

[Evachange]

I know my reply is a bit late, but for what its worth.

Strata usually does not make it much different in terms of getting finance.

 

[Leghorn]

It will make no difference. It could be strata as council have a minimun lot size for a traditional subdivision versus strata, thats all.

 

[UrbanPlanner]

thanks Evachange and Leghorn. The reason I ask was because when I told our MB that we had put an offer in the first thing he said was "its not a strata is it"??

Still waiting to hear if our offer's been accepted, its been over a week now but it's a mortgagee sale and the bank is saying yes but the bank's insurer is saying no (apparently). Now we're waiting to hear back about the results of a valuation that was done earlier this week as the agent believes if the valuation comes down from what it was previously, then our offer will be accepted (we offerred 30k below asking price)