OK Guys - todays dumb questions
i am a complete newbie to property development and am struggling to grasp the process involved
last month we got approval from WAPC to subdivide our property in perth into 2 green title blocks - subject to completion of satisfactory conditions...
these are the conditions - what do they mean in english?:
1) Water corp sewerage and water connections (is this headworks?)
2) Western power underground electrical supply (again assume this is headworks?)
3) removal of existing shed, garage, carport and pool (speak to local council and see if i need a demo permit?)
4) filling in and stabilising block and earing with stormwater (soakwells?)
5) apply to local council for crossover (assume this means getting the curb lowered?)
6) bring existing house (being retained) up to code - (so assume i have to a speak to the local council and find out what they need?)
7)All buildings having the necessary clearance from the new boundaries as requested (does this refer to the planned house having correct setbacks and distance from the boundary?)
so on a freehold / green title subdivision what is the process?
1) find a suitable plot
2) contour and feature survey
3) stage 1 application to WAPC for subdivisin approval
4) come up with a design for the block - talk to developers / builders
5) organise trades to renovate existing house (get licence to erect carport / garage and driveway)
5) organise trades to remove outbuildings and level the site
6) meet conditions imposed by WAPC
7) get surveyors to liaise with utilities for connections
8) Deposited plan to be submitted to Landgate
9) submission of form 1C and applicable fees to WAPC to endorse plan along with confirmation that conditions have been met
10) start building?
so questions:
1) how much work has to be completed before construction begins?
2) does the headworks need to be done? and the fences?
3) at what stage are seperate titles issued?
4) does the builder require seperate titles to start building?
5) when does the builder get the building licence?
6) at what stage do i need to advise the bank (mortgage holder) that i am doing a subdivision?
7) what happens with finance? - assuming the existing / retained dwelling is going to loose some of its value - at what stage will the banks want to re-value?
8) is it wise to approach existing bank to get construction loan?
9) do all subdivision costs come out of my pocket or can the construction loan cover some of these costs aswell?
10) if the construction loan is say 90% of build cost - at what stage to i pay out my 10%?
11) what is the time frame for each stage?
so many questions i know..... just trying to wrap my head around it all
any help would be greatly appreciated
think I need a mentor before i royally screw this all up
i am a complete newbie to property development and am struggling to grasp the process involved
last month we got approval from WAPC to subdivide our property in perth into 2 green title blocks - subject to completion of satisfactory conditions...
these are the conditions - what do they mean in english?:
1) Water corp sewerage and water connections (is this headworks?)
2) Western power underground electrical supply (again assume this is headworks?)
3) removal of existing shed, garage, carport and pool (speak to local council and see if i need a demo permit?)
4) filling in and stabilising block and earing with stormwater (soakwells?)
5) apply to local council for crossover (assume this means getting the curb lowered?)
6) bring existing house (being retained) up to code - (so assume i have to a speak to the local council and find out what they need?)
7)All buildings having the necessary clearance from the new boundaries as requested (does this refer to the planned house having correct setbacks and distance from the boundary?)
so on a freehold / green title subdivision what is the process?
1) find a suitable plot
2) contour and feature survey
3) stage 1 application to WAPC for subdivisin approval
4) come up with a design for the block - talk to developers / builders
5) organise trades to renovate existing house (get licence to erect carport / garage and driveway)
5) organise trades to remove outbuildings and level the site
6) meet conditions imposed by WAPC
7) get surveyors to liaise with utilities for connections
8) Deposited plan to be submitted to Landgate
9) submission of form 1C and applicable fees to WAPC to endorse plan along with confirmation that conditions have been met
10) start building?
so questions:
1) how much work has to be completed before construction begins?
2) does the headworks need to be done? and the fences?
3) at what stage are seperate titles issued?
4) does the builder require seperate titles to start building?
5) when does the builder get the building licence?
6) at what stage do i need to advise the bank (mortgage holder) that i am doing a subdivision?
7) what happens with finance? - assuming the existing / retained dwelling is going to loose some of its value - at what stage will the banks want to re-value?
8) is it wise to approach existing bank to get construction loan?
9) do all subdivision costs come out of my pocket or can the construction loan cover some of these costs aswell?
10) if the construction loan is say 90% of build cost - at what stage to i pay out my 10%?
11) what is the time frame for each stage?
so many questions i know..... just trying to wrap my head around it all
any help would be greatly appreciated
think I need a mentor before i royally screw this all up