Selling a body corporate property

If you are selling your body corporate property, there is information you must give a buyer before they sign a contract of sale.

Buyers should be told what their rights and obligations as new owners will be.

The documents you need to give a buyer before they sign a contract of sale include the:

Buyers can also read about buying a body corporate property.

Body corporate certificate

The body corporate certificate gives a buyer information about the body corporate and your lot.

It includes information about your lot such as:

  • levies that are due
  • a register of any improvements a buyer will become responsible for.

It has information about the body corporate including:

  • the regulation module that applies
  • by-laws that apply
  • any contractual arrangements your body corporate may have.

Asking for the certificate

You will need to ask your body corporate for a body corporate certificate. You must ask in writing and pay a fee.

Other people who can ask for a body corporate certificate include:

  • a mortgagee of the lot
  • a buyer who is under a contract for the sale of the lot
  • someone you gave a seller disclosure statement to
  • another person who proves to the body corporate they have a proper interest in the information they asked for
  • your agent or the agent of a person mentioned above.

Number of copies

You only need to ask for one body corporate certificate.

You can give this certificate to any potential buyers before they sign a contract for sale.

If the lot does not sell quickly or you find out the details have changed, you can ask for an updated certificate. You can pay a reduced fee if you ask for another copy within 3 months of the original request.

Fee for the certificate

See the fee for body corporate certificates.

The fee amount is set by the legislation. The body corporate cannot charge you more than the fee.

Your body corporate manager cannot charge you more than the set fee in the legislation. This also applies if someone else asks for the certificate, even if that person is not a lot owner.

A potential buyer who asks for the certificate will also have to pay the full fee.

Your body corporate can ask their body corporate manager to complete the certificate. The body corporate manager may charge your body corporate a fee to do this. Your body corporate should look at the body corporate manager’s contract terms to find out more about the amount they can charge.

When to expect the certificate

The body corporate must give you the certificate within 5 days of your request.

For an additional fee, the body corporate can (if able) supply it within 24 hours.

When to give the certificate

You must give a buyer a copy of the certificate before they sign the contract of sale.

How long the certificate stays valid

The information on the certificate is only accurate on the day the certificate is issued.

The buyer can find the date the certificate was issued on the first page.

A buyer or seller can request a certificate at any time to get the most current information.

Asking for additional financial information

To get up-to-date financial information before the contract of sale settles, you or a buyer can ask the body corporate for:

You may be asked to give your legal representative a copy of:

  • annual general meeting minutes
  • your last contribution notice.

These documents can help you find out which periods the levies are due in. You can then make any financial adjustments at the time of settlement.

You, the buyer or your legal representatives will have to pay a fee for any extra records or certificates you need from the body corporate.

Using the approved form

The body corporate certificate contains all the information needed under the legislation. It is an approved form.

The certificate you receive from your body corporate manager may look different from the certificate available online. This may be because your body corporate manager has software to help them complete the form.

Under section 48A of the Acts Interpretation Act 1954, substantial compliance with an approved form is enough. This means a body corporate manager does not need to use the approved certificate. However, they will need to seek legal advice to confirm the form they use is substantially compliant.

Signing the body corporate certificate

A person authorised by the body corporate can sign the body corporate certificate.

If you are part of a specified two-lot scheme, the person authorised by lot owner agreement can complete and sign the form.

The committee can authorise one or more people to sign the certificate on behalf of the body corporate. This authorisation stays in place until it is revoked. The committee does not need to authorise someone each time a certificate is issued.

A body corporate manager is usually authorised (under their contract) to sign and issue documents for the body corporate.

If the body corporate manager cannot complete the certificate, another person will need to do so for the body corporate. This is usually a committee member authorised by the committee.

When no certificate needs to be given

You do not need to provide a body corporate certificate if:

  • the body corporate tells you in writing that it cannot give you a certificate because it does not have the records to prepare the certificate. For example, because the records are
    • missing
    • destroyed
    • in disarray

or

  • all of the following apply
    • a module other than the specified two-lot scheme module applies to the scheme
    • the developers control period    has ended
    • the first annual general meeting has been held
    • no committee for the body corporate has been chosen
    • no body corporate manager has been engaged to act as the committee.

Instead of the certificate, the body corporate must provide you with a statement stating one of the reasons above. You can then give this to the buyer.

If no body corporate certificate is given

If the body corporate cannot give you a certificate, you and a buyer can ask the body corporate for:

You must make the request in writing and pay a fee.

If the body corporate or their manager says they are not sure how to fill out the certificate, they should read the Guide to completing the body corporate certificate (BCCM form 33).

Seller disclosure statement

Most property sellers in Queensland need to give a buyer a seller disclosure statement before they sign the contract of sale. This is required under the seller disclosure scheme.

Owners in a community titles scheme must also complete section 6 of the statement.

The seller disclosure statement provides information about your property and your scheme.

You may need to ask for body corporate records to help you complete the disclosure statement.

Learn more in the guide to the seller disclosure scheme.

Community management statement

You need to give a copy of the community management statement (CMS) for your scheme to the buyer before they sign the contract of sale.

If the CMS states the by-laws for your scheme, your body corporate does not need to give you a copy of them with the body corporate certificate.

You can buy a copy of the CMS from your body corporate. If your body corporate does not have it, you can search Titles Queensland records to buy a copy.

More information