08 Dec Apartment buyers and sellers
For anyone thinking of selling or buying an apartment, you should have a good relationship with a real estate agent who specializes in apartments especially when dealing with apartments on a leasehold title.
As an apartment buyer, make sure that the agent provides you with at least three years of Body Corporate Annual General Meeting (AGM) minutes and budgets.
In addition ask if there have been any Extraordinary General Meetings (EGMs) or committee meetings.
A copy of the financial accounts would also provide valuable additional information.
In accordance with your banks requirements, confirm that you are able to borrow on the specific apartment. Remembering it is always advisable to make any Agreement for Sale and Purchase conditional upon the satisfaction of a financial condition.
We also recommend that prior to you signing your Agreement for Sale and Purchase (whether buying a home or selling a home) that you consult with your chosen solicitor.
For more information on buying or selling your home or investment property, please contact Ian Mellett at Quay Law Barrister and Solicitor.
Quay Law is an Auckland law firm based in Remuera. Our contact telephone number is +64 9 5232409.