Browse Forums Buying Land Re: Selling before titled 3Mar 07, 2016 4:09 pm It's not allowed in our contract, but that's not stopping someone in my street doing it, so I guess it can be done. I am assuming they sort permission first. Its being sold through a different agent than the original developer agent, so maybe they know the tricks around it. Doesn't make sense to me, I don't see how you can sell something you don't yet own. Re: Selling before titled 4Mar 07, 2016 5:21 pm They may be advertising it, but until the land is registered and has a title the original developer still owns it. Once there is the title the settlement will proceed to transfer the title to the new owner, and only then can that new owner sell it on. It could be that they are just trying to line up a buyer so they can quickly sell it on once they get the title, but I would think they are expected to disclose that information, or at the least couldn't sign contracts until the land is theirs to sell. If their contract when buying the land states a restriction on how soon they could sell the land, depending on the timeframe they may be trying to line someone up for that expiry. If they breach that restriction they may be exposed to legal consequences if the developer finds out. Some estates are particular with owner-occupier/ investment property ratios and may have determined the timeframes to ensure property values are not undermined by quick resellers. Coral Homes Avoca 20, Providence, Ripley QLD Re: Selling before titled 5Mar 07, 2016 8:13 pm They can but its all done with simultaneous settlements. We've purchased our block through our builder. So they've exchanged contracts on it with the developer and then we've exchanged contracts on it with the builder. So as soon as the builder settles on it we will have two weeks to settle on it. - otherwise known as Kym - Been in a similar position and we decided to let the builder go. Some of the PSA money goes to engineering so we at least got those documents and they actually refunded us… 2 6013 I am in the same situation, would you be able to give some insights in to this? I am in SA 8 16956 Ardo That is so funny! I wonder how many people know who Larry Haun is these days. I have a couple of young guys we call Mo 1 & Mo 2 who run a crew of 6 boys and… 9 15420 |