A Paddocks Sectional Title Lifestyle Blog
As many of you know, I spent a few years living in Australia and working in Strata (Sectional) Title there.
In Australia, when a person is looking to buy a strata property, it’s considered standard procedure for the prospective buyer to obtain a ‘pre-purchase report’. Think of it as a due diligence report. As the name implies, it is a report that the prospective buyer receives before officially buying a property.
In South Africa, no one seems to do this. Quite frankly, with all the issues we hear about from people who have bought into a sectional title scheme without doing their due diligence, I think that needs to change.
These are the types of things that you could expect to learn from a great pre-purchase report:
Why is it important to know this kind of information in advance of buying a sectional title property?
For buyers to protect themselves financially and also to give themselves (or their tenants) the best chance of a good quality of life within the scheme, I believe pre-purchase reports should become standard procedure in South Africa, as they are in Australia.
Do you agree? Share with us by commenting below…
|Paddocks on Who scolds the sectional title…|
|Paddocks on Valid fining rules in sectiona…|
|Paddocks on What power or authority do tru…|
|LoreDana Merlo on What power or authority do tru…|
|Mike on Who scolds the sectional title…|