Vendor offering to Strata title rather than discount price

[staceyo]

Hi all

I'm about to make an offer on 2 by 2bed units in Rockhampton, Qld. The asking price is $335 and I was going to start with $280k. The market is flat there and they have been for sale for a few months.

However, the vendor has said that if he gets close to the asking price he do the strata title for them. Is it worth it? Does this process cost more than $10k?? Having no idea it makes it harder for me to negotiate a good price.

Appreciate any views.

Stacey

 

[Sheryn]

Staceyo


In NSW if you have a duplex strata'ed you pay 2 council rates a year eg. one for each unit (one council rate is preferrable IMHO if you plan to hold as usually cheaper). Is this the same in QLD?

Stata in NSW is between 7K & 10K for a duplex (current price information sourced from a builder who strata's his own developments frequently).

I would suggest vendor has aleady started strata process and has paid some fees so is trying to recoup this money.


Question...

1. Do you want the units strata'ed?

Strata'ed duplexes are valued at a higher value in NSW as considered easier to sell IMHO.

Some people have a strategy of buying unstrata'ed duplexes, renovating, strating and onselling.

Hope this helps (think and clarify) even though it refers to NSW.


Sheryn

 

[lizzie]

i've also done a strata in nsw and the costs came to only around $10,000 - including surveyor, council and lands titles fees ... unless there is some "work" required to bring them up to strata standard (ie, firewalls etc)

still not close to your $55,000 difference - perhaps as sheryn said, tell them you don't want them strata'd atm.

 

[mkiss]

What about 4 units?

I'm looking at 4 units all on 1 level. From what you where saying before strataing this would cos about 20k - 5k per unit???
regards

 

[Fudge]

Hi all

I'm about to make an offer on 2 by 2bed units in Rockhampton, Qld. The asking price is $335 and I was going to start with $280k. The market is flat there and they have been for sale for a few months.

However, the vendor has said that if he gets close to the asking price he do the strata title for them. Is it worth it? Does this process cost more than $10k?? Having no idea it makes it harder for me to negotiate a good price.

Appreciate any views.

Stacey

I am looking at strataing in Caboolture, and for a duplex, costs about $6,000 in total. This accounts for surveyors fees, council fees and a community title plan being done.

The cost is cheap, provided it can be stratad without additional outlay. (i.e. seperate metres, firewall, etc)

You say that if he gets offers close to his asking, he will do the strata.......I would then offer not close to his asking and do the strata myself.

If I was keeping the property, I wouldn't strata, as another poster said you will pay more as they will be on two titles, not one.

If I was selling it, I definately would be strataing and selling individual units. You should be getting more selling 2 strata'd properties than selling one duplex. Most people aren't investors, and obviously want to just buy one house to live in, so the individual stratad units have more of an 'audience'.

Cheers,

F

 

[Sheryn]

I'm looking at 4 units all on 1 level. From what you where saying before strataing this would cos about 20k - 5k per unit???
regards

Don't know costs have never done 4 units BUT if you ring around the local surveyors they can give you estimates, based on street and how long ago subdivision was done (this is the case in NSW).


Newer subdivisions are cheaper than older subdivisions ( what I mean by subdivisions is how long ago streets were developed and sold).


Good luck
Sheryn