I hope this project proceeds as there is plenty of cream in it. Here is the deal.
With the contract of sale for the 1st Unit of my current project going unconditional today I felt ready to secure this site. I have already drawn up preliminary siting of 2 kit homes (2 bed, 1 bath, 1 carport) Council planners have looked at the plans and don't see any problems with consent to the development despite there being some variation to the DCP.
At the moment it all hinges on finance so will be finalising my application with Bankwest tomorrow via my broker. Will post more details in due course.
Sales Advice
PURCHASE PRICE: $240,000
DEPOSIT: 5% ($12,000.00) payable on exchange of contracts
CONDITIONS:
1. Subject to finance approval by 10 Sept. 2010
2. Subject to Registration of Strata Plan of Lot 1, No. 2
current project
3. Settlement Sept 30, 2010 or 7 days from registration
of Strata Plan of Lot 1, No. 2 ..........., whichever is the later.
4. If settlement delayed beyond Sept. 30, 2010 then:-
(a) Deposit released to vendor’s solicitor trust account,
to be invested with interest to vendor;
(b) Penalty interest @ 8.0% p.a. payable on outstanding
balance ($228,000) to vendor.
5. If Strata Plan Lot 1, No. 2 current proj. not registered by 30 June 2011, then either
Party may rescind, in which case the deposit is
refunded to the purchaser, but interest thereon together
with penalty interest paid on outstanding balance,
retained by vendor;
6. Vendor to promptly sign all documents required by
purchaser in pursuit of development consent for
Duplex development.
7. Permission to access the site for all development purposes.
Please advise when contracts have exchanged.
Yours faithfully
………………….
Partner
With the contract of sale for the 1st Unit of my current project going unconditional today I felt ready to secure this site. I have already drawn up preliminary siting of 2 kit homes (2 bed, 1 bath, 1 carport) Council planners have looked at the plans and don't see any problems with consent to the development despite there being some variation to the DCP.
At the moment it all hinges on finance so will be finalising my application with Bankwest tomorrow via my broker. Will post more details in due course.