Browse Forums Buying Land Re: NEVER BUY UNTITLED LAND 21Sep 30, 2013 1:03 pm Yes you should put in an offer, all they can say is no! We got rejected on an offer for land that was $20K below their asking, but we truly didn't believe it was worth that. They said no and it was a sign because we then found the perfect block As for the long delay in titles, I think this is quite common and hope it doesn't happen to us, however we know there is a risk and the clause in the contract is 2 years. I understand what you are saying about transperancy though, they may have been more optimistic just to get you to sign. Our builder gave us a more realistic date (our developer said October 2013, they said thinking around February would be a good buffer. But so far we are on track for Nov/Dec). Where have you bought land? Perhaps someone else here can shed some light for you - maybe they were told different again? I have family who are in the industry (as in doing work on new estates) and they say there are a lot of hold ups at the moment due to money ie bank won't loan them more if there aren't enough blocks sold. Good luck! My build thread: viewtopic.php?f=31&t=70636&p=1161767#p1161767 Re: NEVER BUY UNTITLED LAND 22Nov 29, 2013 3:01 pm if you are an investor, isn't the longer settlement the better capital growth? say you put down 10% for exchanging contract, but it took 3 years for the land to be registered. in 3 years time the land value has gone up quite a bit. you can sell it outright for instant profit. you only paid 10% to hold the land for 3 years, plus some taxes.. Re: NEVER BUY UNTITLED LAND 24Dec 05, 2013 3:39 pm mesophyte alexlj if you are an investor, isn't the longer settlement the better capital growth? That's assuming there will be significant capital growth. In many new estates this is far from given. we purchased untitled land in Wallan, we put our deposit down in May 2012, but it didn't title till July this year, we were originally told it would be Dec 2012. It worked out relatively OK for us as the delay allowed us to save significantly more deposit and were in a position to build as soon as it titled, when we originally thought we might need to wait a year. HOWEVER, the sale of land in the area has really slowed in the last year and a half, and as a result the land value has dropped. The bank valuation was $10k less than the contract price, which meant we had to make that up ourselves, which was annoying, but we intend to live there for the next 30 years, and we got the last of the 576sqm blocks available, so if we had waited for titled land we probably would have had to purchase a smaller block as all the large blocks seem to get sold first. All the largest blocks on our stage were presold, and since the stage has titled, of the 22 lots there are only 6 houses in the process of being built, and maybe 4 or 5 others that are sold, all the smallest lots are still unsold. So anyone one who wants a titled block in our estate can at maximum get a 512sqm block, if you want bigger you will have to put a deposit on a block in the next stage and wait, and given how slow the sales on our stage are going it could be a year or more before they even start work on the next stage. Re: NEVER BUY UNTITLED LAND 25Jan 31, 2015 9:42 am I bought my block untitled end of November last year and they stated Titles expected early Feb. Having said that, the roads were all complete, street lights, paths, fences etc. All looks like its going ahead being titled next week. So I guess you just have to find out whether earlier stages titled in expected time frames or not. My Build Journey - Mainvue Amalfi 530 in South Eastern Melbourne https://forum.homeone.com.au/viewtopic.php?f=31&t=75810&p=1353804&hilit=mainvue+amalfi#p1353804 Re: NEVER BUY UNTITLED LAND 26Jan 31, 2015 8:09 pm We bought untitled land last May and it titled in December (was originally meant to be September ish). This is in NW Sydney and land of this size is rare so the value had increased by $100k by the time it titled. Some people sold their blocks as soon as it registered and took the cash. Six months later and the value has basically doubled ($1000 per sqm now). Our developer was the local Council so we were ok but I've heard that at a nearby estate with a private developer that they are worried that the developer is dragging the chain so as to be able to enforce the sunset clause and then resell for a higher price. Yeah I don't know why I came to a forum. Place is full of wierdos/pedos thought internet may help but I suppose I'll try my luck with someone in person. Cheers. I tried… 0 6391 That sucks! Hope it all works out. Good to move away from steel anyway for all your reasons, but it's also thermally poor. 16 17774 Looking at some of the designs on websites, they are all selling very similar products. I get that you want something stylish. It's worth looking for search terms like SaveH2O… 2 6989 |