Browse Forums General Discussion 1 Feb 04, 2008 12:37 pm We're planning to buy another block of land and it's our first time to encounter body corporate fees.
I forgot to ask this question to the sales consultant, but if anybody here knows the answer, it would be appreciated If we buy a block, when do you reckon would we start paying the body corporate fees? We're planning to build in the far future (we were given 2 years to commence building) and sell the house and land afterwards. I wonder if body corporate fees are payable as soon as: - the title is released - the house is built - etc? ----------------------------------------------------------------------------------------- Built the Nevada 42 Next project - landscaping! Re: Planning to invest on land.. body corporate fees 2Feb 04, 2008 5:46 pm I know we will be slugged our BC fees 14 days after settlement, regardless of when we build, and then obviously on a 12month anniversary from that time onwards. We are with a villawood estate...... Gav & Vanessa Building In Melbourne (Sth East Suburbs) http://www.arkraider.blogspot.com/ Rawdon Hill Construction - Canterbury Heritage Re: Planning to invest on land.. body corporate fees 3Feb 04, 2008 6:44 pm Hi VJ
In most cases, the Owners Corporation fees will be due after settlement. Used to be called Body Corporate but regulations changed on 1st January. I would check with the sales consultant to confirm though, and ask them also how often they are payable as some payments are broken up either annually, quarterly or bi-annual. If your settlement date is part way through the payment period established, you should not have to pay the full amount. You should only pay for the portion remaining from the settlement date to the end of the period. If an Inaugural General Meeting has been held I would ask for a copy of the Minutes as the budget should have been established and there should be a breakdown for each lot's fees. Dana Dana -------------------------- Building with DFH - carpet installed! Re: Planning to invest on land.. body corporate fees 4Feb 08, 2008 9:18 pm Thanks Kryten and arkraider for your responses.
If we can find another block in another estate that do not have this kind of fee, then we would prefer that. ----------------------------------------------------------------------------------------- Built the Nevada 42 Next project - landscaping! 0 19335 Is it just a report written to give to the bank initially and it is based on what and how your payments are made up for, or is it a full service where they go out and… 2 5599 Give Jonathan a call. Tell him you know me. He is in my opinion the best surveyor I have ever worked with. His number is 0425 285 622 All the best Simeon 3 12393 |