Cape Coastal Homes Logo
You are here: Cape Coastal Homes / Latest News / Legal Thought For The Week What To Consider Before Buying A Sectional Title Unit

Legal Thought for The Week – What to consider before buying a Sectional Title Unit

SHOWING ARTICLE 1098 OF 1126
GALLERY

BUYING A SECTIONAL TITLE UNIT? CONSIDER THESE IMPORTANT QUESTIONS!

A little homework goes a long way when considering the purchase of a sectional title unit. Points to ponder:

  • What is sold with the unit?
  • Are there parking bays, garages and storerooms?
  • Are these facilities allocated by the body corporate in terms of the rules of the scheme, or are they exclusive use areas?
  • Do you need to make a contribution for these facilities?
  • Are there enough visitors’ parking bays?
  • Are there open pieces of land around the complex and has the developer reserved a right to extend the scheme in phases?
  • Can you have copies of the conduct rules of the complex, as well as copies of the audited financial statements?
  • What amounts are owing by the body corporate to the municipality?
  • What are the monthly levies?
  • Are there any special levies likely to be raised in the future?

 

Source - STBB Newsletter

Author STBB
Published 02 Sep 2014 / Views -
Disclaimer:  While every effort will be made to ensure that the information contained within the Cape Coastal Homes website is accurate and up to date, Cape Coastal Homes makes no warranty, representation or undertaking whether expressed or implied, nor do we assume any legal liability, whether direct or indirect, or responsibility for the accuracy, completeness, or usefulness of any information. Prospective purchasers and tenants should make their own enquiries to verify the information contained herein.