Browse Forums Buying Land 1 Mar 05, 2010 3:19 pm Hey All, I've bought land and the sales agent says I have to build within 18 months. Is this a legal requirement? Who do I talk to if I want to take longer? Re: how long can I hold land before building? 2Mar 05, 2010 3:40 pm Not sure about whether it is legal or not but most estates require you to start within some defined period of time (usually 12 months)... ... built a Promenade with Clarendon. viewtopic.php?f=31&t=25104 20-10-09 - excavation and piering completed ... 12-04-10 - Basins fixed. Connecting to the electrical grid 23-04-10 - PCI 07-05-10 - HANDOVER! Re: how long can I hold land before building? 3Mar 05, 2010 3:43 pm jiggins_mcclusky Hey All, I've bought land and the sales agent says I have to build within 18 months. Is this a legal requirement? Who do I talk to if I want to take longer? We have the same stipulation in our estate. I believe you are legally compelled to commence building in this time frame. However, if you cannot meet this deadline I would talk to the developer of the estate to see what arrangement can be come to... We have a house in Doreen. Built the PD Kensington 24 (with Alfresco & Rumpus option). We are in...Decorating in progress...pics to come soon... Re: how long can I hold land before building? 4Mar 05, 2010 4:41 pm Your contract will state the term and the conditions, whether an extension is permissible and the process for applying for an extension if there is one. If it's not clear, check with the developer and apply for an extension. If you plead your case and the developer is reasonable you may be granted an extension for a defined period of time; eg 6 or 12 months. Re: how long can I hold land before building? 5Mar 05, 2010 5:14 pm I'm not sure if there's a time limit on how soon you have to build in my estate, but i do know that if we want to take advantage of the landscaping package we're given when buying hte land, that we have to build within 12 months. viewtopic.php?f=31&t=22766 - my build thread! Time waits for no man. Unless that man is Chuck Norris. Re: how long can I hold land before building? 6Mar 05, 2010 7:25 pm In our contract the developer had the option (irrevocable) of purchasing the block back off us at 90% of market value if we failed to meet the building timeframes. This is for starting (12 months), finishing (24 months) and leaving a building site idle (3 months) from settlement date. So yes it is a legal requirement if it is in your land contract. You will need to check the contract on who can extend etc. but it should be the vendor (developer). Re: how long can I hold land before building? 7Mar 05, 2010 10:20 pm Check whether it is actually written into the title of the land also - if it's just a convenence (is that the right spelling?!) and not actually written into the title then legally they can't do anything about it, ALL of our covenence were written into our title and it stipulates that the covenence will remain valid for as long as the title does, so technically FOREVER!!! I have heard that some covenence can have a time frame written in to them on the title - so maybe 5 years which might be when the developer plans on all of the land being sold off and developed etc so the developer has moved on and really doesn't care whether you stick to their guidelines anymore! Sleven Moved into our Atlantique MkII 36 by Carlisle Homes Re: how long can I hold land before building? 8Mar 06, 2010 4:07 pm sleven Check whether it is actually written into the title of the land also - if it's just a convenence (is that the right spelling?!) and not actually written into the title then legally they can't do anything about it, You mean a covenant.... there's some interesting info and links here: http://www.dse.vic.gov.au/DSE/nrenpl.nsf/LinkView/2BF3571C1C8563DFCA256D480003CF45BEA6C84AE71808E0CA25730600829CDF Apart from the legal ramifications, surely there are moral ones? You sign a legally binding contract, agreeing to all the terms and conditions. Is it right to do that if you have no intention of complying with the terms of the contract? There may be legal ways around it if you're not in a position to build within the stipulated timeframe - I know that some forum members here have had extensions granted for various reasons. If the OP needs to extend the time for financial or other valid reasons, then it would be wise to find out if it's possible now, rather than just wait and do nothing. Covenants are notoriously difficult to enforce, but it does happen.... This is also interesting: http://www.geom.unimelb.edu.au/hunter/lectures/451203/Lecture_7.ppt#256,1,Land%20Covenants yes it does, you've just not understood it. theres a difference. 4 5331 Just to clarify, I'm not a builder I've read my own council's LEP numerous times and worked with an architect to understand my own lot size and problems. 5 1835 Building a fence now will help limit people dumping rubbish and soil on your property. Many houses in suburbia on small lots have fences up before a build. I moved into a… 1 4409 |