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  1. #1

    Default freehold unit title

    I'm looking at putting an offer in on a unit in a block of units.
    I'm told it has a freehold unit title.
    What exactly is this?
    Is it just a unit with freehold land around it with maybe shared driveway etc?

  2. #2
    Join Date
    Oct 2007
    Posts
    322

    Default

    I wouln't buy a single unit in a block of units with a barge pole.

  3. #3

    Default

    Quote Originally Posted by markw1 View Post
    I wouln't buy a single unit in a block of units with a barge pole.
    Reason being?
    Most properties on the market seem to be in blocks.
    What would you suggest markw?

  4. #4
    Join Date
    Oct 2007
    Posts
    322

    Default

    Theres so many problems with just owning one unit. Who pays what, one owner is slack and lets it get run down, loud neighbours etc etc etc.

    I would stick with eithe buying the whole block or buying stand alone houses?

  5. #5

    Default

    the problem there is.
    It rules out the majority of the market.
    Infact, at this stage in Chch, in the areas I'm looking for. Merival/city/riccarton. There is only these types of properties on the market unless you go over 300k.

    Back to the original question...
    I'm told it has a freehold unit title.
    What exactly is this?
    I would also be interested in hearing others experience with this sort of scenario (owning a single unit/flat in a block).
    My father had a few of these and never had any related problems (I suspect because he only bought in decent areas that attracted good tenants). Which is what I'm aiming for.
    So anyone else got any good/bad experiences to offer?
    Last edited by duck; 21-06-2009 at 07:29 PM.

  6. #6
    Join Date
    Nov 2008
    Location
    Karratha WA
    Posts
    1,444

    Default

    See http://www.consumerbuild.org.nz/publ...r-pimsland.php for a quick definition.

    Check out the body corp (or lack of one).


 

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