A property developer is selling off-the-plan apartments in Queensland. What is a key requirement under the Body Corporate and Community Management Act regarding the disclosure of estimated administrative fund contributions?
Correct Answer
C) Estimates must be included in the disclosure statement before contract
Queensland legislation requires developers to provide estimates of administrative fund and sinking fund contributions in the disclosure statement before purchasers sign contracts. This ensures buyers understand the ongoing costs of ownership in the community titles scheme before committing to purchase.
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A property developer in Queensland must provide which document to purchasers before they sign a contract for an off-the-plan apartment?
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