Hi everyone
I have been reading with keen interest the recent posts by Stacey Survey with regards to the first steps to be undertaken when planning a subdivision, costs involved, professionals that are essential to your development 'team'... all great stuff, thanks again Ashley!
While I am aware that the information provided relates specifically to Melbourne / VIC, it would seem that, as a general rule of thumb, the info can be used as a rough guide / road map for other states / areas / councils (obviously essential though to undertake own due diligence re: council requirements etc). Am I right in this assumption??
Something that I did notice was that the general tone / wording of the documents were such that it was assumed that you need to be already in possession of the land / block. But what if one you're not???
How do you go about doing your due diligence on a block before going all in? Are you able to have a clause similar to "subject to pest & building / finance / etc" after making an offer on a property ... "subject to subdivision feasibility inspection" or something similar??
My wife and I are looking at this strategy as our future direction, and are yet to make any offers on properties. And as we have not undergone the process before, we are still unsure about the methods that can be used to minimise exposure to risk.
At this stage we have a general idea about what we should be looking for in potential properties, and are thinking that we will talk with some contacts we have (local builders / project managers, building designers, conveyance / solicitor) and contacting other relevant professionals (surveyors, private town planners) to pick their brains about things that we should be looking out for that will either rule a property out or make it a good prospect (in council's eyes).
After we have done this and are confident that a particular property is one we want to make an offer on, are their conditions that we can use to cover ourselves should there be some unforeseen reason why the property will be no good for what we want to do?
Thanks in advance, and looking forward to your replies!
Daniel
I have been reading with keen interest the recent posts by Stacey Survey with regards to the first steps to be undertaken when planning a subdivision, costs involved, professionals that are essential to your development 'team'... all great stuff, thanks again Ashley!
While I am aware that the information provided relates specifically to Melbourne / VIC, it would seem that, as a general rule of thumb, the info can be used as a rough guide / road map for other states / areas / councils (obviously essential though to undertake own due diligence re: council requirements etc). Am I right in this assumption??
Something that I did notice was that the general tone / wording of the documents were such that it was assumed that you need to be already in possession of the land / block. But what if one you're not???
How do you go about doing your due diligence on a block before going all in? Are you able to have a clause similar to "subject to pest & building / finance / etc" after making an offer on a property ... "subject to subdivision feasibility inspection" or something similar??
My wife and I are looking at this strategy as our future direction, and are yet to make any offers on properties. And as we have not undergone the process before, we are still unsure about the methods that can be used to minimise exposure to risk.
At this stage we have a general idea about what we should be looking for in potential properties, and are thinking that we will talk with some contacts we have (local builders / project managers, building designers, conveyance / solicitor) and contacting other relevant professionals (surveyors, private town planners) to pick their brains about things that we should be looking out for that will either rule a property out or make it a good prospect (in council's eyes).
After we have done this and are confident that a particular property is one we want to make an offer on, are their conditions that we can use to cover ourselves should there be some unforeseen reason why the property will be no good for what we want to do?
Thanks in advance, and looking forward to your replies!
Daniel