Proper Due Diligence for Buying Strata Properties (with Nicole Johnston)

Did you know that buying a strata property is significantly
different to buying a stand alone house? 


So what’s the difference? What level of due diligence should you
have when buying strata or community title property? Are there
more risks involved?


Today, we talked with Dr. Nicole
Johnston, a senior lecturer and researcher at Deakin
University, about her experience and knowledge on buying strata
properties. We covered factors you need to look at when
considering multi-owned property, the risks involved, and what
you should do before making an offer.


If you enjoy the show, do like, rate, subscribe, and share it
with others! We have loads of resources available and if you’d
like to chat, email us at support@homebuyeracademy.com.au!


We’ll see you on the inside!


 


Episode Highlights:
What does it mean to own a property that is not on individual
title? [03:14] Reasons states and territories have
different legislations [06:00] What should you
look out for when buying strata properties?
[11:18] Factors you should consider when buying
multi-owned property [15:54] Massive conflict in a
strata meeting [20:23] Read and inspect the
disclosure information, contracts, and records
[24:58] Relying on a lawyer or conveyancer to
check the records [29:07] Legislations that
protect property buyers [34:58] Investigate more
thoroughly before buying a property! [36:55]
Nicole’s learnings after buying her first strata title apartment
[41:00]

 


About Nicole:


Dr. Nicole Johnston is a Senior Lecturer in the
Department of Finance in Deakin Business School and a socio-legal
researcher focusing on multiple aspects of multi-owned properties
(strata title, condominium, apartments) including governance,
conflicts of interest and legal relationships. 


 


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and share the show! There’s more to come, so we hope to have you
along with us on this journey!


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