If you are thinking about buying in to a Sectional Title Scheme, there are many things to consider.
- Is the scheme well managed?
- Is the scheme solvent?
- Is there a Managing Agent?
- What are the Conduct Rules?
- What are the levies?
and many more,,,,
To answer the first question check to see if the block is well maintained. Has it been recently painted? Is is neat and tidy? If there are gardens, are they well maintained?
To answer the next question, ask for a copy of the latest AFS (Annual Financial Statement) Are there any negative comments from the auditors?
If there is a Managing Agent, the scheme should be properly managed, if there is not, ask more questions about who and how it is managed.
A copy of the Conduct Rules will show whether there is a concerted effort to maintain a decent standard of living.
Check what the levies are for the unit you are considering buying. You cannot complain that the levies are too high or unaffordable after you have bought.