在澳大利亚 Hi Guys, Ive found a property that has mentioned two payments coming up of $1400 to apparently top up the admin fund and 2 have just been paid. Im looking at a financial statement (basically a balance sheet) for the strata and its all a bit Hi all, I currently have a PPOR and 10K cash in the bank which I plan to use as a deposit for a IP early next year. Is it possible for me to place this into my PPOR loan and then redraw the 10K when Im ready for the IP and then claim the int
Hi guys, we are in the process of subdividing our 46 perch block into 2, one of them 22 perches and the other approx 20 with an easement. This application has been with the council since the beginning of october and the surveyers have been excellent although unable to get the council to give any concrete committment to approving it or a date when it will be completed (supposably problems with drainage). I do not want to "piss off" the council as I have called and they just keep ignoring my questions and did not give any answers at all, they might put the application to the bottom of the pile if i keep hassling them.
What experience has anyone had with this sort of application, and what have you done? Is there an avenue to raise a dispute or should i sit on my hands and wait as that is how long it takes generally. cheers and thanks for any input
Thank you, I've learnt a new word.
a. A linear measure equal to 5.50 yards or 16.5 feet (5.03 meters); a rod.
b. One square rod of land.
So what you refer to as "perch" must be a square rod = 25.3 sq m
46 perch block = 1164 sq m
thats the one ! in qld most people talk in perches hehe ! but you are on the mark with square metres one block will be 600 sqm and one 543 sqm
thanks Michael for the info i have a "case manager" but he is useless he is advising that the plans are in engineering and when they get to them they get to them, as you can see there is a real sense of urgency! Good idea though i will take along my land surveyor to mediate to the meeting, they are quite astonished as well at how long it is taking.
I just talked to my surveyor and he advised to go to my local councillor for mediation as this is the best option for resolution. will keep you posted! cheers
I didn't know what a Perch was until I started looking into BNE property...
Quick rule of thumb...
Everything seems to be based on approximately 8 perch units...
8 perches is about 200m2.
So, small blocks are 16 perch (400m2)
Standard blocks are either 24 (600m2) or 32 (800m2) perches.
Larger blocks are 40 or 48 perches.
Just an observation...
Where are your blocks Crunch, and what are you going to do with them??
Mark Mandall will be able to answer more concisely, but from what I understand the BCC is just about to alter their town planning regs, I know the setbacks for 16 perch blocks is just about to increase. But I believe that the minimum for a battleaxe block is going to be 32 perch, including driveway. I don't think this will affect you, since your applications are already in council, but wouldn't hurt to check!
Hi Asy, they are res A and we are going to sell the front block and move the house to the back battle axe block and renovate it and then rent it out. A big excerise but worth the effort and with the proceeds we can hopefully buy some more investment property.
the old farts will remember.
a quarter acre block = 40 perches = 1012 m2.
remember the good old 1/4 acre.
1 chain wide by 2 1/2 chains deep or 20m x 50metres.
in qld most people talk in perches hehe !Click to expand...Agree that acres as well as square metres are certainly used and I do hear perches being used here and there. However I think it would be an overgeneralisation to state that most qld'rs talk in perches.
they are res A and we are going to sell the front block and move the house to the back battle axe block and renovate it and then rent it out. A big excerise but worth the effort and with the proceeds we can hopefully buy some more investment property.Click to expand...When the only bridge across the river is blocked, what do you do?
Make another bridge!
If the councils hangup is the approval of the subdivision (even though development application fees have been paid) it may be worthwhile taking a different approach.
Do you have to subdivide it at this stage?
Could you instead apply for council approval to have another house relocated onto the back of the block?
You could pick up less expensive relocatable houses and the house relocators may even give you a hand to have the approval passed as it would be in their best interests to ensure that the sale goes ahead. You could then reno both properties, rent them both out, revalue and THEN put in the application for subdivision if you want to.
Otherwise don't subdivide them and build on your assets through the higher yield and the capital growth. Certainly I would not be advocating relocating and selling off the block. (Remember it costs just as much to relocate 100 metres as 100km.)
subdivision approved !
Hi guys, just wanted to let you know as promised that the subdivision has been approved, we are excited! It has only taken the council 6 months after a few meetings and phone calls to keep the ball rolling after much negotiating. Now we have to move the house and sell the block of land, we are thinking of selling the land ourselves to keep costs down, any pros & cons or stories from experienced sellers you would like to share ? cheers
good to see all your hard work paid off !
land is easy to sell - yourself
you don't even have to be there for inspections
no open houses to deal with
make sure your solicitor checks any contract before you sign and negotiate with the solicitor before you start all this, as some may be even more expensive than an agent would have been.
thanks Investron & XBenX , we are using our conveyancer he seems reasonably priced, we will put an ad in realestate.com and an ad in the newspaper. i think that it should be fairly straight forward as well it's a piece of flat land in the burbs they either like it or they don't !
I guess the other side of selling privately is that you can never be sure if you are selling too low- or marketingt it too little- if you do, that can negate any gains.
Hi geoffw, we are going to get an independant evaluation which will give us a good indication of price to start with, you have to do this for capital gains. Anyway by having a look at what is selling in your area on the net and in magazines you can get a feel for what the land is worth, don't you think?
Looking at land sales in the area should provide a good indication as long as you take into account zoning, drainage & local character restrictions, which may limit the structure on a street of houses to another house or at best townhouses rather than a block of flats.
I wouldn't get a price from a valuer
agents have a better idea and you can list it with an agent if they put their commission on top - as long as you clear the amount you want, it doesn't matter who sells it.
When getting a valuer DO YOUR OWN HOMEWORK as well.
Get a few agents to value your block.
Get comparative sales data (especially recent data - valuer may not get all of this).
Give all the data you have that gives the highest possible evaluation to the valuer.
Make your estimate on the upper end of what is reasonable and you MAY get a reasonable figure.
I recently got my house valued for a loan, I presented all my data (verbally, bad Idea, give in writing next time) and said what I thought was a conservative figure. Well the valuation came in 5K less than my VERY conservative estimate. This meant that I had to pay extra mortgage insurance to the tune of about 1k !!!
Next time I will estimate on the high side.
Sorry if this message is a bit garbled and convoluted, end of a long work day.