Categories for Charges

Looking to Buy a house- consider pre-contract Building Inspection before sign on the line

23/3/2023
Written by

Under the current normal Buying a property process in WA, a buyer will sign a contract -also known as an Offer and Acceptance (O&A) to buy a House, Land, or Strata lot, and they may include as a condition their desire for a Building Inspection or Survey done, usually at their own cost, after it goes unconditional. The standard REIWA annexure if included in the negotiation of the O&A allows for a Pre-purchase Building Inspection. However, it is usually limited...

New type of Title, what is a Leasehold scheme, Title, and Reversionary interest

27/5/2020
Written by

The introduction of the new Strata Title Act Amendment has led to the creation of Leasehold Schemes and Titles in WA. A leasehold scheme includes a subdivided underlying title with a reversionary interest and leasehold strata titles. A Leasehold Title is a portion of the subdivided land that acts the same as a freehold parcel for the duration of the leasehold scheme (20-99 years). Reversionary interest relates to the right of the owner of the underlying title. It allows them...