Here and Now
Grand Reef in Dee Why was one of the first buildings to borrow from us – we were delighted to be able to help them through a very difficult period for such excellent results.Here is their story:
 | ConveyancersIf your client is purchasing a strata property where borrowing has occurred, you've got good news for them. Borrowing means the owner's corporation has acted to fix their building issues now - to improve lifestyle for the occupants and enhance its capital and rental returns. It's the same as buying a company - the value is determined by the worth of the tangible asset with adjustments made for the share of the corporation's balance sheet, i.e. its assets and liabilities. If the corporation has borrowed it means they've figured out that it will cost them more money to wait for Sinking Funds or impose Special Levies. They know that waiting means a very likely increase in scope of works and in the labour and materials, and that their cash will simultaneously be tied up with all returns taxed. Strata borrowing is off-balance sheet for unit owners. It frees up cash reserves for better uses - like further property investments. Call us to find out more. We're here to help. |
