Unit buying fundamentals

On this week's show, Sam and Chayse dig into the finer details of purchasing a unit in Brisbane. The unit market is hyper competitive right now so having a solid understanding of what to look out for will put you in the best position to buy.

Key Takeaways:

What buyers should be looking for in a unit purchase

Boutique complexes vs bigger complexes

Body corp structures, fees and searches

Body Corporate search clause:

This Contract is subject to and conditional upon the Buyer conducting satisfactory searches (in the Buyer’s absolute discretion) of the Body Corporate records within fourteen (14) days from the date of the Contract (‘the Due Date’).

The Buyer must give notice to the Seller that:

(i) it is satisfied with its searches and this special condition is either satisfied or waived; or

(ii) it is not satisfied with its searches and the Buyer terminates this Contract, in which case, the deposit is to be refunded in full.

The Seller may terminate this Contract by notice to the Buyer if notice is not given under clause (b) by 5pm on the Due Date, in which case, the deposit is to be refunded to the Buyer. This is the Seller’s only remedy for the Buyer’s failure to give notice.