Selling any property can be a daunting and complex process, but selling property in a strata scheme can be quite different from selling regular freehold. In this article, we consider some of the quirks and nuances involved in getting your strata property back onto the market.
Whether it’s a family home or simply an investment, the time comes when property needs to be sold and, for owners in strata schemes, there are a few unique matters that need to be addressed. Most of these come from the fact that strata scheme by-laws apply to limit some of the steps you would ordinarily take in preparing your home for sale.
In essence, the benefits of collective ownership and external management which are often considered virtues of strata living can, unless correctly managed, become inconveniences at best or, at worst, hurdles to the effective marketing and sale of your property.
As with all things strata-related, the first port of call for owners should always be your strata manager. Your strata manager will be able to step you through the by-laws and make sure you know what you can and can’t do without permission from the strata committee. They can help you to deal with the strata committee for any matters that require committee consent, and to locate all relevant documents and paperwork for the contract of sale.
Your strata manager will also be able to provide you with an outline of any capital works or repairs scheduled, and may be able to move some of these dates to accommodate your proposed timetable in some instances.
If you are considering selling your property soon, or even just interested in starting a conversation about it, get in touch with your strata manager for further details today!