When developers come knocking ?
- Thread starter Jillian
- Start date
Learn how to value your block from a developers point of view, get a good solicitor, talk to your accountant. Learn everything you can so that when/if they come knocking you will be prepared and they won't be able to baffle you with BS.
We were fortunate when we were selling to developers that our accountant had a lot of experience with subdiving land so he helped us do the figures and we just went to a few agents and said this is what we have and this is what we want for it. we got considerably more than our neighbour did with his similar block.
We were fortunate when we were selling to developers that our accountant had a lot of experience with subdiving land so he helped us do the figures and we just went to a few agents and said this is what we have and this is what we want for it. we got considerably more than our neighbour did with his similar block.
Most of the 'compulsory acquisition for public good' proposed laws seem to be passed planning stage and must be getting ready to be presented in parliament. (don't know the exact terms).
There was talk some time back that a unanimous vote would no longer be requires for a strata and instead only 75% would be necessary. Reading the articles it appears that the 75% has still not become legislation (but not sure)
http://www.brisbanetimes.com.au/bus...ke-developers-lives-easier-20100314-q652.html
http://www.smh.com.au/national/strata-holdouts-forced-to-sell-under-new-plan-20100115-mch1.html
Both articles seem to relate to the same news stimulus.
http://www.alvaroedwards.com.au/labels/Compulsory acquisition.htm
The strata scenario seems to be running hand in hand with the broader compulsory acquisition of freehold land all based on the excuse that it is for public good that the government can compulsorily acquire your property to then on sell to developers as a profit.
As recent attempt by Parramatta council to acquire property was defeated when taken through to the high court.
http://www.alvaroedwards.com.au/2009/05/proposed-legislative-attack-on-castle.htm
But with the proposed legislation there would be no further right of appeal.
Cheers
There was talk some time back that a unanimous vote would no longer be requires for a strata and instead only 75% would be necessary. Reading the articles it appears that the 75% has still not become legislation (but not sure)
http://www.brisbanetimes.com.au/bus...ke-developers-lives-easier-20100314-q652.html
http://www.smh.com.au/national/strata-holdouts-forced-to-sell-under-new-plan-20100115-mch1.html
Both articles seem to relate to the same news stimulus.
http://www.alvaroedwards.com.au/labels/Compulsory acquisition.htm
The strata scenario seems to be running hand in hand with the broader compulsory acquisition of freehold land all based on the excuse that it is for public good that the government can compulsorily acquire your property to then on sell to developers as a profit.
As recent attempt by Parramatta council to acquire property was defeated when taken through to the high court.
http://www.alvaroedwards.com.au/2009/05/proposed-legislative-attack-on-castle.htm
But with the proposed legislation there would be no further right of appeal.
Cheers
It seems that the labor gov is amending a lot of legislation to win votes for the upcoming election. Have a look at the new tenancy bill that will be put through parliament in June, it's entirely written in the favor of tenants. Here's a email I received from Property Owners Association:
THE NSW LABOR GOVT is bringing in the
RESIDENTIAL TENANCIES BILL
THIS HURTS BOTH TENANTS & PROPERTY OWNERS - as the residential rental market falls and property owners leave
The Residential Tenancies Bill (RTB) means:-
RENT CONTROL
The Tribunal must consider the circumstances of the tenant when the Tribunal controls the rent for your property and tenure.
TENANT CAN ALTER YOUR PROPERTY
YOU MAY NO LONGER CHOOSE YOUR NEW TENANT
LEASES ARE VALID FOR ONLY 2 WEEKS
NON PAYMENT OF RENT NO LONGER GROUNDS
And much more – the RTB is long, complex, on the Fair trading site:-
http://www.fairtrading.nsw.gov.au/A...on/Draft_Residential_Tenancies_Bill_2009.html
THE NSW LABOR GOVT is bringing in the
RESIDENTIAL TENANCIES BILL
THIS HURTS BOTH TENANTS & PROPERTY OWNERS - as the residential rental market falls and property owners leave
The Residential Tenancies Bill (RTB) means:-
RENT CONTROL
The Tribunal must consider the circumstances of the tenant when the Tribunal controls the rent for your property and tenure.
TENANT CAN ALTER YOUR PROPERTY
YOU MAY NO LONGER CHOOSE YOUR NEW TENANT
LEASES ARE VALID FOR ONLY 2 WEEKS
NON PAYMENT OF RENT NO LONGER GROUNDS
And much more – the RTB is long, complex, on the Fair trading site:-
http://www.fairtrading.nsw.gov.au/A...on/Draft_Residential_Tenancies_Bill_2009.html
i, for one, cannot wait until the next election and hope the nsw state government is resoundingly trounced.
this legislation of compulsary aquisition is disgusting and unconstitutional. bet they don't go knocking on any of those huge blocks in north harbour or boarding the state forest. i hope that the first person dealt will take to the courts and have the whole policy rubbished out.
according to a report last week developers have 10's of thousands of residential blocks in sydney already on their books waiting to be developed but refuse to do so because the high multi-level government fees means they make no profit - so instead they continue to landbank.
several builders have pulled out of sydney because the high fees means they make a loss on house and land package ... i cannot express my total frustration at this current state government!
and - of the federal stimulus for schools money, the nsw state government are taking 40c out of every dollar for themselves as an administration fee!! 40% management fee - not a bad scam for them. for $250,000 given to a school they are barely able to build a shed and get a paint job - hell - private sector can build an entire house with landscaping for that!
and don't get me started on electricity ....
this legislation of compulsary aquisition is disgusting and unconstitutional. bet they don't go knocking on any of those huge blocks in north harbour or boarding the state forest. i hope that the first person dealt will take to the courts and have the whole policy rubbished out.
according to a report last week developers have 10's of thousands of residential blocks in sydney already on their books waiting to be developed but refuse to do so because the high multi-level government fees means they make no profit - so instead they continue to landbank.
several builders have pulled out of sydney because the high fees means they make a loss on house and land package ... i cannot express my total frustration at this current state government!
and - of the federal stimulus for schools money, the nsw state government are taking 40c out of every dollar for themselves as an administration fee!! 40% management fee - not a bad scam for them. for $250,000 given to a school they are barely able to build a shed and get a paint job - hell - private sector can build an entire house with landscaping for that!
and don't get me started on electricity ....
Yep, we have added photo voltaics to our shopping list for when we build, especially after the last electricity shock ........ err bill
