Once You Are Able To Understand The Building Rules,
You Are Good To Go
It has been
years since I own a townhouse and now I need to sell it to invest in another
property. It is going to be a year now, but still, I was not able to get the
right deal. So I approached one of my friend working at housing development
authority to take the right decision. After understanding my situation he
informed me about the strata title and companytitle in NSW and advise me to take up the matter.
After discussion
with him, the ways and means of the method became clearer to me. He said that
till now I had the company titled property and so it is hard to give up the
property as a whole because it needs a lot of investment. This type of
properties can only be handled by a board of directors of shareholders because
of the intensity of investment. What I can do is break it down into strata
title. The guidelines of the strata title stated that I have the authority to
theoretically break up the townhouse into multiple sections and give it up for
selling. By this, I will not only be selling the property but in a convenient
way as the investment by the owner gets smaller and he is able to live
individually in a big house. The owner of the new section will enjoy his own
property along with utilising some common areas like staircase, garden,
corridor and terrace. After changing documentation from company title NSW to start a title it took me three months to sell
of the whole property easily.
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