All Topics / The Treasure Chest / sewerage connected

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  • Profile photo of LakshmiPropertyInvestorsLakshmiPropertyInvestors
    Member
    @lakshmipropertyinvestors
    Join Date: 2002
    Post Count: 30
    April 15, 2003 - 5:38 am

    Hi fellow investors,
    we were wondering about the situation that could occur in a Lease/option contract where a government body imposes a levy on a property for some new service such as sewerage.
    Who would be responsible for this levy, which could be quite significant? – the seller, the investor or the tenant-buyer?
    regards,
    Andy & Claire.

    Profile photo of Paul DobsonPaul Dobson
    Participant
    @pauldobson
    Join Date: 2003
    Post Count: 1,196
    April 16, 2003 - 3:51 am

    Hi

    Unless you have written in the “option” that the purchaser of the option is responsible for this type of cost, then you will be responsible for this bill.

    All the best, Paul

    Paul Dobson | Vendor Finance Institute
    http://www.vendorfinanceinstitute.com.au
    Email Me | Phone Me

    An alternative way to finance your home.

    Profile photo of LakshmiPropertyInvestorsLakshmiPropertyInvestors
    Member
    @lakshmipropertyinvestors
    Join Date: 2002
    Post Count: 30
    April 16, 2003 - 4:14 am

    Thanks Paul,
    Your answer is all we need.
    Funny how the most difficult issues become simple when you have the answer.
    Regards,
    Andy & Claire
    [:)]

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