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Do you mean pull out of the land, right? I think it's the only right option considering the situation.

Hi albanga, Worst one would be selling at a loss in 10 months time. I can't imagine it though considering the current state of the marker. Anyway, let's say -5%. In a good case (not the best one) I'm thinking at least 10% profit would be quite achievable.

Hi jeromanomic, The problem is my borrowing capacity will not allow me to have both. E.g. my capacity is X, the H&L price is X as well and the land price is approx. 0.5X. I've only got approval for X but not for 1.5X. Thus, would need to sell land fast to be able to get finance for...

Hi tobe, Taking into account the costs (CGT, stamp duty of $3310 and conveyancing costs) I think I'd still be able to make some profit. However, it's the time constraint though that does not make it realistic to do this.

albanga, The land is not longer available in that estate so no supply of new land. The demand is also there so far. However, considering the short amount of time to sell the land it's probably not worth the risks. I'll likely be concentrating on just that H&L. Thank you!

What's be the typical time to allow for land settlement in NSW? Is it 42 days?

Hi albanga, If I can't sell the land I won't be able to get finance for the H&L. I don't believe the H&L settlement can be extended. If I can't get the finance for H&L in time I'll be paying some kind of penalty interest rate and in the end loose my 5% deposit if no finance obtained after...

Regarding the estate, as per the contract I'm free to do with the land whatever I want. No obligation to build. Can put it on the marker next day after it registers.

Hi tobe, Just to clarify things a bit. We are talking about two properties: land block (1) and house and land (H&L) package (2). I have enough capacity to borrow for H&L (2). My intention for H&L is to build it and rent it (long term buy and hold, not intention to sell any time soon). I've...

Hi Rolf, Not really. One of the lenders I had a chat with told me that my current borrowing capacity will be just enough to pay for the H&L package. However, it won't be enough to pay for both first land block and that H&L package. At least that's my understanding. I'll be looking to have a...

Hi vaughan. Yes, it's my first IP. I don't need much cash to hold the blocks since at this stage I'm only about to pay 5% (comes from my savings). It's when they are registered in 10 months and 1 year time that I'll need to pay 100%. However, the problem is that unless I sell the first block...

Hello all. I'd love to get your advice for my situation. Basically, I put down $300 deposit for a block of land in one of the new Sydney estates. It's still in development and that land is going to be registered around July next year. It's in the last land release in that estate so the land...