Strata Survey - 3 villas
- Thread starter MTR
- Start date
Strata levies are a settlement issue. If the vendor has (pre)paid strata fup to three months after settlement then the buyer has to adjust price upwards. If its owing then its a downwards settlement adjustmnet. Like rates etc.
Not uncommon on new devs that the strata isnt actually formed and nothing has been allowed etc. Like a sinking fund on a new block - It will be empty. The builder/owner may have paid the first year insurance and handover means the strata must do year two onwards. Buyers lawyers will check its all insured and strata etc.. Maybe.
Big builders more likely to handover to strata co.
Not uncommon on new devs that the strata isnt actually formed and nothing has been allowed etc. Like a sinking fund on a new block - It will be empty. The builder/owner may have paid the first year insurance and handover means the strata must do year two onwards. Buyers lawyers will check its all insured and strata etc.. Maybe.
Big builders more likely to handover to strata co.
