Established and Progressive Trusted Legal Advisors since 1859 Our - - PowerPoint PPT Presentation

Established and Progressive

Our legal professionals provide specialist expertise in areas relating to:

Trusted Legal Advisors since 1859

• Strata & Community Title
• Building & Construction
• Estate Planning, Trusts

& Estate Litigation

• Banking & Finance
• Charities & Not-For-Profits
• Corporate & Commercial
• Dispute Resolution
• Property
• Education

Register for all the latest eNews on any of these areas at: http://www.makdap.com.au/resources_registration.cfm

Date: 24 November 2012 Presenter: Suzie Broome Partner Makinson & d’Apice Lawyers Strata & Community Title Contact details: mail@makdap.com.au 02 9233 9018

Owners Corporation Network

Buying a “pre-loved” Strata Property The “intelligence” of purchasing

The Allure

• Coffee
• Croissants ……. and
• THE DOMAIN!!!

What are you buying?

• Is it part of a complex (more than one strata

scheme) such that there could be a Strata Management Statement?

• Is it only a residential scheme?
• Are there commercial and retail lots?

You as “Sleuth”

• Go to the building and walk around it
• Wait until there are people about who live there

– speak to them

• If there is an on-site manager – engage him/her

in conversation about the building

• Question the vendor’s agent and be persistent

in respect of the answers you need

On the ground

• Do you have a car space?
• Where is it?
• Are there any intrusions in it such as pipes,

sprinklers or ventilation ducts?

• Enclosed or not?
• Can you fit your car into it?
• Is there room for a storage box?

On the ground

• Do you have a pet?
• Do you want a pet?
• Does the by-law provide for pets such as the
• ne you want or have?
• Did you see or hear any pets (dogs) when you

went to visit?

Shared Facilities and Levies

• Are you buying into a development with shared

facilities?

• What does the Strata Scheme in which your

desired lot is located pay towards these shared facilities (pool, gym, lifts, tennis courts, etc)?

• Look at the unit entitlements on the Certificate
• f Title to the common property
• What percentage of the total unit entitlements

does your “desired” lot pay?

The Documents

• Strata Plan
• Strata Management Statement
• By-laws
• Building Management / Caretaker Agreement
• Certificate of Title to the Common Property
• 109 Certificate
• Minutes of General Meetings – check budget

and expenditure

Inspection of the Records, Lot & Building

• Inspect the records at the strata manager’s
• ffice
• Call Integrated to obtain advice as to who can

inspect the intended purchase and the building

• What do the records state about what monies

have been spent and on what?

• Has there been money spent on lawyers?

Why?

• Is there any litigation on foot?

Harmony in the Strata Scheme

• This is communal living
• Not everyone will love you or even like you
• There will be some people that you think are

bad

• There will be others that you think are mad

Harmony in the Strata Scheme

• Identify the “mad” and the “bad” by looking in

the records to see if there have been:

• 1. Applications for mediations
• 2. Application for strata schemes adjudicator’s
• rders
• 3. Appeals to the Consumer Trader and

Tenancy Tribunal (CTTT)

Still in love?

• Buy the jolly thing!!!

Suzie Broome Partner Makinson & d’Apice Lawyers Strata & Community Title E: mail@makdap.com.au Ph: 02 9233 9018