Buying a sectional title unit? Consider these important questions!
Category Advice
A little homework goes a long way when considering the purchase of a sectional title unit. Points to ponder:
- What is sold with the unit?
- Are there parking bays, garages and storerooms?
- Are these facilities allocated by the body corporate in terms of the rules of the scheme, or are they exclusive use areas?
- Do you need to make a contribution for these facilities?
- Are there enough visitors’ parking bays?
- Are there open pieces of land around the complex and has the developer reserved a right to extend the scheme in phases?
- Can you have copies of the conduct rules of the complex, as well as copies of the audited financial statements?
- What amounts are owing by the body corporate to the municipality?
- What are the monthly levies?
- Are there any special levies likely to be raised in the future?
Your conveyancer can guide you on these and many other important aspects of your property transaction, so get professional advice before you sign at STBB.
Author: STBB
