Search results

That's correct, you'll only pay stamp duty on the land component - a nice way to minimise govt charges.

The article says they won't fund construction on Off the plan purchases. What you're talking about ISNT OTP in the sense they're talking about - OTP consists of the developer funding the construction and you settle at completion. What you're looking at is a standard house and land construction...

Are there any common construction taking place? If not it's just a standard house and land package deal which don't have finance constraints - I've got three of these ongoing currently. Split contracts are a problem IF there is common construction provisions, as there is the potential for...

They won't fund OTP during construction phase, so the general structure is to put a 10% (or other figure) deposit down, with settlement being 7/14 days after practical completion of the build. You'll find very few developers trying to sell common wall/medium density builds with settlement...

Looks like a normal house and land package - normal finance. Having a land contract + build contract isn't necessarily a 'split' contract. A split contract covers when there is one overriding building contract, split between multiple building parties (imagine a row of 5 townhouses with common...

PM me the address/link if you'd like, I can have a quick look to see whether we're on the same page. If they can provide you will a fixed priced building contract not reliant upon other building parties there shouldn't be any issue with getting finance across on the type of security.

Split contracts used to be normal fare for lenders up until recently, due to some mishaps with finance failure on one part of a common development causing a domino effect on the surrounding parties. This has resulted in valuers assigning a 0 value on land which tanks deals for the most part...