Comments on: Conveyancing – Commmunity Title / Body Corporate / Strata title property comes with significant inherent risks (and costs) that investors must factor into their return calculations

By: Andrew Lind

Andrew Lind — Thu, 21 Jan 2010 06:24:17 +0000

Hi Lyn Yes a subdivision will be required. A couple of initial suggestions are these: 1. You engage a surveyor experienced with this type of subdivision to advise you on the best form of subdivision; 2. Usually a Small Scheme under the Body Corporate and Community Management Act is required. A Body Corporate Management company could assist you with the documents required. Alternatively our Property Law Team could project manage this for you. A short consultation would give you a good idea of the process and value our property lawyers could deliver. Regards Andrew Lind

By: Lyn

Lyn — Wed, 20 Jan 2010 23:47:54 +0000

Hello, I have a duplex being built at the moment and would like to sell them separately. As they have been built on a corner block and each unit faces a different street, have separate water, electricity etc and the only common area is one wall right down the centre, what would I require to be able to sell them separately and how would I go about it. I have spoken to numerous people with conflicting answers like – you will need to subdivide the land?? or you will need strata title the property and set up a body corporate with a bank account, insurance, meetings etc? There is only 2 units with no common area except the wall, surely I could arrange for the wall to be included in the covernants in some way to protect it? Thanks so much for your time, I appreciate your forum. Cheers. Lyn

By: Andrew Lind

Andrew Lind — Fri, 21 Aug 2009 04:19:37 +0000

Generally the answer is no the configuration of the strata title lots in relation to each other and common property means that subdivision can only be achieved via strata / community title subdivision. However in very limited circumstances what you are taking about may be possible. The starting point for you would be to speak to a surveyor in your area. If the property is in Queensland, our Property Law team would be able to assist.

By: Andrew Lind

Andrew Lind — Fri, 21 Aug 2009 03:37:27 +0000

This is a question you need specific legal advice on. The answer is going to depend on a number of issues including: - the basis and terms of the real estate agent’s appointment in the first place - whether your agreement with the real estate agent was lawfully terminated. Please let our Property Law and Conveyancing team know if we can be of assistance to you.

By: Gary

Gary — Mon, 17 Aug 2009 19:06:30 +0000

I have a property for sale.with an agent. I stipulated that I wanted a certain price for the property. The agent submitted a contract for a value which did not meet my stated price which I rejected. I then withdrew in writing the property from that agent and subsequently placed the property on the market as a private sale. The original buyer has now approached me to purchase the property on a private sale basis at an acceptable price. Can I proceed with this sale without the prospect of being sued by the agent for the value of the commission?