Selling or Buying a Unit in Darwin

Buying a unit or townhouse involves several important steps to complete the transfer of ownership. This includes reviewing the Contract of Sale to help ensure all terms and conditions are clear and conducting necessary checks, such as title searches and understanding any restrictions on the property. Additionally, it’s important to review strata or body corporate documents, which detail rules, bylaws and financial obligations related to shared property ownership. The process concludes with settlement, where the buyer pays the remaining purchase price, and the ownership is transferred.

Selling a unit or townhouse involves specific administrative requirements. These include preparing a detailed Contract of Sale. The buyer's conveyancer will obtain a report from the body corporate, including financial statements and usually the latest AGM. Compliance with these obligations helps prevent disputes and may ensure the transaction proceeds smoothly.

Strata or body corporate fees are payments made by unit or townhouse owners to cover the costs of maintaining and managing shared property. These fees typically fund expenses such as building insurance, cleaning, repairs and maintenance of common areas like hallways, gardens, pools or lifts. The fees are determined by the strata or body corporate committee and vary depending on the size and complexity of the property. Buyers should review these costs carefully before purchasing.

Conveyancing for units and townhouses addresses the unique  aspects of these types of properties. It involves reviewing the strata bylaws and financial records to clarify the buyer’s or seller’s responsibilities. This service can be crucial for protecting the interests of both buyers and sellers during the transaction.