By laws are rules which an owner or occupier living in a strata complex must abide by. By laws can be changed or varied by a special resolution of the owners corporation. It is important to understand how by laws can affect your living style when considering buying into a particular strata complex. In our experience below are “areas” which often cause issues among owners within a strata complex:- – the keeping of animals –
Bank Valuations Depending on your circumstances, if a bank valuation of a property is under the agreed purchase price it could mean that you cannot obtain the required finance to assist with your Purchase. The video highlights an example where we were acting for a First Home Buyer and the property valuation ordered for finance purposes was significantly lower than the agreed purchase price. It is possible, even with a strata apartment, for the results
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