Townhouse with no Strata

Hi all,

What happen if a block of townhouses are not managed by strata? Currently they are still owned by one entity and the sales agent told me that it will be put
on strata once sold. Is this normal? Should I be concern?
Thanks.
 
Hi all,

What happen if a block of townhouses are not managed by strata? Currently they are still owned by one entity and the sales agent told me that it will be put
on strata once sold. Is this normal? Should I be concern?
Thanks.

Yes, this is normal.
No, you should not be too concerned.
Before the title can be transferred to you (and your lender will cough up the settlement funds) they need to register the strata & form a Body Corporate.
 
Thats good to hear.
Can I also assume that things will be better, "in-order" after strata is put in place?
At the moment, one of the residence is putting items outside his/her garage or in common property area.
Thanks.
 
The thing that would concern me is if there is not yet a body corp, how much will the BC fees be when it is bought, and also how much is your vote worth? (ie is a developer going to hook himself up with an apartment or two with 51% of the voting power?)

We almost bought an apartment a few months ago, whereby the owner said that half of the 8 apartments in the building were sold, but the body corp fees weren't yet set because there was not yet a body corp.

If it is true a bank wont settle without a body corp, this likely means the other apartments may have been sold, but not actually settled yet? (or the guy was lying?)
 
Related to this post.

For a lot of 6 new townhouses in QLD, all held by single owner as investments.
Is it required by law to set up a body corporate?
Is strata titling then an option, or also required?
Is it possible to strata title and not set up a body corporate?

Thanks
 
If there is any common property upon any subdivision for 6 lots then most likely a body corporate will be required. If each house has their own driveway etc then maybe you can get away with it. Some people get away with it by having an easement over any 'common' property rather than having to establish a body corporate.
 
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