Noobugawa replied to the topic Highly Technical Question: Subdivision Titles and Separate Owner in the forum Help Needed! 6 years, 10 months ago
Let’s say settlement for the original full block hasn’t occurred yet. Can parties A and B still do this to ensure they don’t pay associated taxes and duties twice?
How exactly do A and B enter into a deed? Do they go to a lawyer to do this? If so, what costs can we expect?
Sorry to bombard you with all these questions,…[Read more]
Noobugawa started the topic Highly Technical Question: Subdivision Titles and Separate Owner in the forum Help Needed! 6 years, 10 months ago
I have a technical question about subdivision and the title registration process.
Let’s say Mr A and Mr B bought a block of land together and subdivided it into two lots, “Big Lot” and “Small Lot”.
Is it possible to assign only “Big Lot” to Mr A and “Small Lot” to Mr B? When does this separate ownership title take place? Will there…[Read more]
Just a question on subdivision costs. We’ve received quote of about $20k from an architect to do the following:
1. Design of two townhouses.
2. Documentation to secure a planning permit.
3. Documentation to secure a building permit.
Does that sound reasonable?
Noobugawa started the topic Build before subdivision or subvide before building in the forum Value Adding 6 years, 10 months ago
I have a question on the subdivision process and would greatly appreciate your advice or feedback.
I’ve recently purchase a corner block of land approx 760sqm and I am planning to build two townhouses on it, one to live in and the other to rent out.
The one to live in is going to be bigger and occupies more land. I am going to…[Read more]
Nah. They were not giving tax advice, that is the job of accountants. They merely confirmed to me the existing loan can stay unchanged after subdivision or they can divide it into two separate loans one for each block. They did say it’s very rare to ask borrowers to top up the loan after subdiv and demolition as long as we can show that we are…[Read more]
Thanks Qld007. Very helpful comments. The house is very old and tiny 2 bedder with a colourbond roof. So the value is mostly in the land. Isn’t subdivision usually going to create instant value in the land when approved so it’s rare for banks to value subdivided blocks less than the initial value in an appreciating market?
With the maximising…[Read more]
Recently bought a block of land (760sqm) in South East Melbourne and plan is to demolish and subdivide into two blocks.
Block one is 450sqm and we plan to build a family home on it.
Block two is 310sqm and we plan to build an investment prop on it to rent out.
My questions are:
1. What happens to the existing loan of say $1m when we…[Read more]