Hi there,
I am worrying a bit about a question to do with selling strata titled units. We have strata-ed 3 sets of existing units in the last few months in an area where the council no longer requires fire rating. So far this has just been to increase our equity but we are now coming to sell eome of these for profit.
This is where the conscience comes in. I am prepared to put in the disclosure statements that the units are not fire rated but I am worried that some people might still not be aware of it. Does everybody expect strata units to be fire rated still?
Also – even if we make people aware on sale we have no control over on-sale.
What do you think? Am I worrying uneccesarily?
Thanks
Karen
I think most prudent buyers will find out when they do a building and strata inspection before buying. Don’t stress about it.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auComments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Hi Robert,
Thanks.
I just hate the idea of accidentally getting someone who is too green to know to do checks. Also – don’t want to run the property down, though.Do you know if it’s common now for councils to not require fire rating?
cheers
Karen
I have a couple of units with common walls. I dont know if they are fire rated or not.
The thought never entered my mind at the time of purchasing.
But I sleep at night, no problems. I have complied with the law as to smoke alarms and done what a reasonable person has to do.
I reckon you are worrying unecessarily.
I just hate the idea of accidentally getting someone who is too green to know to do checks. Also – don’t want to run the property down, though.
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