Buying land in NSW

[lam]

Hello,

I am looking at buying a vacant piece of land in NSW.

Do I need to pay stamp duty on the purchase price?

How much max LVR would the bank lend for vacant land in NSW?

Is the grant still available?

thank you
L

 

[Mick C]

Hello,

I am looking at buying a vacant piece of land in NSW.

Do I need to pay stamp duty on the purchase price?

How much max LVR would the bank lend for vacant land in NSW?

Is the grant still available?

thank you
L

1. Stamp duty yes...there's no SD on the build price tho

2. Depends on the area and size, regional? or suburbia....but 90% is normally max ( yes someone's gonna come in and say 95% is do-able but it's sooooo rare )

3. Grant - FHOG yep.

 

[knightm]

Hello,

I am looking at buying a vacant piece of land in NSW.

Do I need to pay stamp duty on the purchase price?

How much max LVR would the bank lend for vacant land in NSW?

Is the grant still available?

thank you
L

Just make sure you know what to pay for your block. So many people overpay.

 

[serendip]

Just make sure you know what to pay for your block. So many people overpay.

Any tips on how to determine a fair price? i'm looking at one & as it's relatively inner city there are few comparables.

 

[knightm]

Any tips on how to determine a fair price? i'm looking at one & as it's relatively inner city there are few comparables.

Inner city where?

 

[Mark Coburn]

Land price

Get a bank valuation from your mortgage broker. He should be able to organise a free one for you.