Do I have to pay body corp fees past settlement when selling?

Hi all.

I'm selling an apartment for the first time, so I'm not sure what the deal is with body corporate fees.

The next batch of fees are due for payment by Nov 1, for the 4 month period to end of Feb 2018.

However the sale is due to settle just a few days after that.

So...do I only have to pay the body corp fees up until the day of settlement? And how do I arrange that? Do I contact the body corporate and ask them to issue a new invoice just for that short period?

Or am I still on the hook for all 4 months of fees, because they're due before settlement?

Any advice would be much appreciated. Thanks!

 

You pay, then at settlement there is an adjustment with the buyer paying for the period you have already covered.

If you are concerned, remind your solicitor.

 

@Ken Wood - pay the quarterly levy (adjustment is no different to paying council rates). Make sure that you leave enough time for the payment to go through to the strata manager for receipting and notification of your solicitor when doing the searches/settlement - send a copy of the payment advice and levy to the solicitor beforehand an well and note that it requires adjustment on settlement.

 

Thanks guys, much appreciated.

 

Yep should be a pro-rata adjustment at settlement so you get our portion reimbursed by purchaser.

 

Just make sure you pay well before signing a contract.

Once you sign a contract, don't pay any more BC, water or rates bills as your solicitor may have already done the searches and calculations of any variation due on settlement.
Marg