What exactly does the LEP say? Does it prescribe an FSR of 0.75:1 or must you have 25% of the area as open space with no cap on building area? Does that include circulation space for cars/pedestrians? Provision for visitor parking? Provision for private open space? You may find that the building area will get hammered when you allow for all of the…[Read more]

Solicitors never throw anything in (for free). They may organise pest/building inspections or recommend that you organise them.

Have a look at the local tafe bookshop – get a couple of the texts.

Kailyn, that's almost as scientific as putting numbers on each step and throwing a coin. I'd hesitate to say it is worth: $net rental/8% or  $net rental/9%. What relevance does a valuation close to 30 years ago have  other than for establishing a costbase if you owned it back then.

I classify anything not in the major capitals regional (if it is in a city), rural if it is in a town or less (village/hamlet).As for spending $400 on flights, how does that compare to the rest of the cost of purchasing & the risk of not spending $400 to find out?

Firstly you'll need to decide your budget, the type of property that you are after (commercial/retail/industrial), whether you want it vacant possession or with a tenant in place.Other considerations will include location, zoning, usage, age of premises, functional obsolescence, condition of plant and equipment, bylaws affecting usage (if strata),…[Read more]

You might be best looking for an agent who will charge a fixed fee. If you consider that the selling agent is probably only charging 2-3% why would you be paying the buyers agent more than the sellers agent? After all, the selling agent has to do all of the marketing etc.

Here's the link that I was searching for NSW Dept Planning

No matter how remote the location, I find that it is always best to do the inspection personally for all the reasons outlined by Terry. There are things which are discoverable by your own due diligence (demographics, distance to schools, shops, parks, hospitals, universities, transport etc) however other things ie intangibles are often only…[Read more]

I'd tend to agree if the property is zoned residential however many town plans have a '4' zoning for industrial uses. That said, the property could be considered a development site with the house having little or no value (it may even be considered a liability as you will have to demolish it).In this case you'd be best to seek professional…

Which state are you in?

Shane, which state are you in? NSW govt recently approved a new planning system allowing greater scope for development. I don't recall all of the details but it was on the dept of planning's website.

Creative, but I don't think so. Unless the curtains are worth $50k

Although I am not familiar with SA Property Law, I am guessing that the process to convert from Moiety Title to Torrens may be similar to achieving qualified title for an Old Systems Property. You'd be best advised to speak with your solicitor prior to committing to the property to confirm if this is the case or whether you need to get both/all…[Read more]

Generally speaking the parking space(s) are assigned to a lot, form part of that lot and cannot be further subdivided to separate the parking from the rest of the unit entitlement. You would most likely need to undertake a strata subdivision to do this (it would definitely be possible if it were a stratum lot but not likely under strata as you…[Read more]

In today's news Dept of Fair Trading in NSW has cracked down on unlicensed contractors/tradies in the Campbelltown area. SMHOwner-builders are limited to one project every 6 years. You will be required to get home owners warranty insurance prior to selling etc.Are the risks of a buyer discovering unlicensed work worthwhile?

I'm sure many have not heard of "moiety title" before – can you explain? Which state are you in?

In most areas you will be hard pushed to get more than 3 villas/townhouses on the block. Read the DCP, check the zoning & speak with the council's town planner. There are open space requirements, circulation space, paved areas and landscaped areas all to be considered in the equation.

Basically you will need to undergo the process of stratification ie engage a surveyor, submit an application for subdivision, prepare strata title subdivision (create new strata plan & lots, lot entitlements etc), undertake any work required to make the units comply with the Building Code of Australia (fire separation, fire doors, hose reels,…[Read more]

Digit, the property is a development site and is required to be valued by a valuer as such, taking into consideration the highest and best use of the property. As a matter of interest, what did the banks valuer come back at? Was it similar to the value that your valuer came back with? Did your valuer assess the site in its current form, zoning and…[Read more]