Looked at a house and decided to make an offer on it, I was then told that it was strata titled with the house next door as the owner built the house next door on the same block and then strata split them and is selling them separately. The house next door is new and never been lived in.
I have never had anything to do with Strata Title and dont know a lot about it, the Real Estate Agent is saying only the fence-line is common and that the same for any property so there's nothing to worry about but a quick Google search indicated that I need different insurance, and a body corporate etc in Queensland?
Can anyone shed some light on it, ?
The body corporate should be set up which essentially takes care of most of your insurance. You will need to look after contents insurance and landlord insurance if it is to be an investment property.
you will need to assess the Body Corporate fees and the sinking fund.
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