Purchasing Common Property

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  • 04/07/2012 at 3:22 pm #8227 Reply | Quote
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    Flatchatter

      Hi,

      I am looking to purchase a small piece of common property with the intention of enclosing and integrating into my lot. Our strata manager has provided advise throughout the process so far and I have obtained a valuation and had plans drawn up for the integration.

      I now need to submit a motion for the AGM, can you please provide some advice on wording and what needs to be covered? Is it correct that I require at least 75% or lot owners to vote in favour of the motion in order to carry? While I am not expecting any objections, many lot owners are absent and do not participate in building matters.

      Once the motion is approved I will purchase the space immediately, however, it will likely be 2 years before I start the process of seeking council approval and starting works. At what stage would the building need to redistribute lot entitlement to reflect the change? 

      Thanks in advance for any assistance!

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    Reply To: Reply #15809 in Purchasing Common Property
    PLEASE ... If your property is not in NSW, mention its location (state). Don't identify companies or individuals by name. Don't mention or promote your company or services. Keep acronyms and initials to a minimum. Please, don’t use “quote” unless there is a specific point to which you wish to refer, then highlight (define) that specific passage before you click on "quote". Otherwise just use reply. THANKS.

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