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Once You Are Able To Understand The Building Rules, You Are Good To Go



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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