Hi all,
Long term lurker but first time posting.
I have a house on a big block of land which has council approval for demolishing then subdivision to two Torrens Title blocks.
I have engaged an agent to market the house prior to knocking it down to still generate some rental income. The agent now believes there are buyers who are interested.
The property has been funded through CBA with 20% of the loan being secured through equity from my PPOR.
I believe I have to inform my lender of my intentions to sub divide and sell. This is because they will need to release the titles to my conveyance to lodge the two titles to LTO. Is this correct? Will they need to see any contracts/valuations?
I intend to contact them Monday but just trying to see if I have everything covered.
Thanks in advance
Long term lurker but first time posting.
I have a house on a big block of land which has council approval for demolishing then subdivision to two Torrens Title blocks.
I have engaged an agent to market the house prior to knocking it down to still generate some rental income. The agent now believes there are buyers who are interested.
The property has been funded through CBA with 20% of the loan being secured through equity from my PPOR.
I believe I have to inform my lender of my intentions to sub divide and sell. This is because they will need to release the titles to my conveyance to lodge the two titles to LTO. Is this correct? Will they need to see any contracts/valuations?
I intend to contact them Monday but just trying to see if I have everything covered.
Thanks in advance
