Standard Conditions of the NSW Contract – beware of strata adjustments when acting for a Purchaser

When acting for a Purchaser of a strata property, it is generally assumed that outstanding strata levies will be paid by the Vendor from sale proceeds at settlement. However, accepting this general position without further investigation, may be somewhat careless. Standard condition 23.6.1 deals with strata contributions that are not regular periodic contributions (such as … Continue reading Standard Conditions of the NSW Contract – beware of strata adjustments when acting for a Purchaser