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What you need to know about selling strata

There continues to be a growing interest in buying into strata schemes, offering owners low maintenance, a community to be part of and a fantastic location. The process of selling strata properties can be a complex process as buyers are acquiring ownership of a property within a larger building, including a portion of the common areas.

We are here to offer you some insights into selling strata properties in Western Australia.

When you bring a new strata development to market, it is crucial you understand the strata you are selling and specific details unique to that particular development. It can be valuable to bring a Strata Manager onboard to offer advice, assist your sales team and provide additional information for potential buyers.

Potential purchasers will want to know more about the strata property on the market. It is their responsibility to seek out information from you so they can examine the options on the market and make an informed decision for themselves. However, it is key you have a good understanding of by-laws, boundaries and specific information about the strata plan. If you are unsure, we recommend speaking to your Strata Manager.

As buyers consider purchasing a strata property you are selling, they may have a range of questions for you. Some common questions include:

  • Why do I have to pay for a common amenity I have no use for?
  • What happens when another owner is responsible for damage of the strata? Do I have to pay for the maintenance work?
  • What are the restrictions to the strata property? Can I install anything I like?

A good real estate agent selling strata understands the intricacies of strata. However, you may not know the answer to every question you are asked. With a Strata Manager on your team, you’re able to provide education and helpful information with any potential buyers.

Have more questions about selling strata property? Give us a call on 08 9362 1166 or email us at info@esmstrata.com.au. You can also learn more about strata by visiting the News and Resources page on our website.