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Purchasing within a body corporate can be an exciting journey, but it also requires careful consideration. Before you dive headfirst into purchasing a unit, it’s important to ensure that you’re well prepared. By following these steps, you’ll be better equipped to make a wise decision when purchasing a property within a body corporate.
When purchasing in a body corporate, take the time to explore and connect with the community you’ll be living in. Here are a few things you can do:
Navigating the ins and outs of buying into a body corporate can be overwhelming. Ease your stress by enlisting the help of an experienced solicitor. They will guide you through the process and ensure you make well informed decisions.
You have the right to inspect the body corporate records, and here’s how to make the most of it:
Understanding the financial aspects of your purchase is key. Consider these points:
You may want to consider checking out our Complete Guide to Body Corporate Levies to learn more about levies, how they are calculated, where they go, and what services they provide.
After the dust settles on your property settlement, don’t forget to notify the body corporate of your purchase. This simple step ensures that you will receive all correspondence and benefits that come with joining the body corporate.
It’s essential to understand the boundaries and responsibilities of communication within a body corporate framework, as outlined by body corporate legislation. While committees can, and often do, acknowledge resident correspondence, they are not legally required to respond to every question or comment.
The treasurer of the body corporate often plays a leading role in the committee and the body corporate community. It is a volunteer position which can be very rewarding, but also can take a significant investment of time and effort from the member.
