Hi All,
Wondering what information and documents that I should ask from the real estate agent for an apartment that is for sale. It was used as short stay accommodation and that can be continued or I can use it for myself. It is about 30 years age. How do I find out if there are any major repairs are in the pipeline and the annual cost of holding the property (council fees, strata fees, insurance etc.).
Thanks in advance.
Not very helpful.
More helpful than a "Not very helpful." post.
Is there an equivalent of section 32 (VIC) in WA?
Disclaimer: never bought a place in WA. Below based on the east coast experience
I should ask from the real estate agent for an apartment that is for sale. .. How do I find out if there are any major repairs are in the pipeline
Good luck getting anything you asked for mate. Even if you stomp your feet, quote your rights from ACCC, you will definitely not know the crucial bit of information.
Best bet is to organise your own independent building inspection.
If they have leased the place out, get copies of recent initial and final rental inspection report.
the annual cost of holding the property (council fees, strata fees, insurance etc.).
Strata - get the latest AGM minutes with the agreed quarterly fees. You should see one for admin and one for capital. Read the report containing scheduled repairs. Also get a copy of the previous owners financial status and when they paid their strata fees up to. Factor that in your buying prices
Council - from previous owner. REA doesnt know anything about.
Insurance- building insurance should be part of strata fees. Content insurance is from previous owner. Again REA doesn’t know anything about
ACCC does not regulate REA. State governments do and as such your rights vary between different state/territories when dealing with REA and what is required to selling/buying a place in each state.
Is that what ACCC says when you ask them? /s
Yes they were open in Canberra for walk in's tonight.
Try the following for W.A.:
https://www.commerce.wa.gov.au/consumer-protection/real-esta…
Ask the agent, "What is wrong with the property?" and when they say, "Nothing." Then you can ask, "Can you give me the document for that? Thanks."
depreciation schedule
copy of contract and if you are semi serious about it buy a strata report which is worth its weight in gold. you'll need to pore over the minutes of strata meetings, it will tell you the finances of the sinking fund and administrative fund, tell you whether your strata fees are likely to increase shortly and whether there is any building defects / legal matters outstanding
Thanks. Who will provide the strata report? Agent or I have to buy it from some other agency?
You can choose any provider, conveyancer will usually recommend one and can suggest one for you. Around 200-300 usually
You're clueless, so do yourself a favour and engage a conveyancing or law firm.
Yes…use a good conveyancer…they know what to look for
Use a reputable lawyer, they know all the searches to do. Otherwise if you’re not that serious yet you’ll need a checklist to refer to.
https://www.canstar.com.au/home-loans/checklist-buying-a-uni…
Also see page 24-25 here https://www.commerce.wa.gov.au/sites/default/files/atoms/fil…
Thank you. Very useful info.
Wondering what information and documents that I should ask from the real estate agent for an apartment that is for sale.
In most cases the only document they will have is the listing agreement, which you have no right to see.
It was used as short stay accommodation and that can be continued or I can use it for myself.
I don't know if a single area which will force you to continue to use the place as short stay accomodation. Councils around the world are mostly trying to push the opposite. Push this concern out of your head.
It is about 30 years age. How do I find out if there are any major repairs are in the pipeline and the annual cost of holding the property (council fees, strata fees, insurance etc.).
If it's part of some sort of body corporate, contact the real estate to ask the owner to get this from the body corporate. You'll also want to know the amount in the sinking fund.
I'm going to add to what Zeggie said, you should engage a conveyancing firm. You're missing a lot of potential questions you should also be asking. They'll be able to have a discussion with you so they can actually advice you on what you should know and how to get it.
Thank you so much. Will contact the conveyancer.
You have to find a licenced conveyancer and let them handle it with the selling agent.
You can ask the selling agent about the strata levies.
A contract of sale will be prepared and your conveyancer can check it for you. Let them do the work and find the titles for you.
google "how to buy a property" and read the results until you get enough info on how to buy a place.