hi just wondering how most developers buy land they want to put units on i found some land that i want to put units on so i made an offer for the property with term that i get it appoved though council for units on the land and settle in 4 months time or when i get approval is this what most people do or do they buy the land and hope it can get units put on it.
Also how long does it take most developers to get the council to approve the buildings including getting plans draw up.
Thanks
RobHi Rob, there was an excellent discussion on the use of options at:
https://www.propertyinvesting.com/forum/topic/12042.html
getting council approval is like the old length of a piece of string – could be 6 weeks, could be a few decades, it all depends on what you are trying to get through.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
Council approval for units.
First arrange a meeting with the local town planner. Give the property address with the meeting booking so that some preliminary research can be undertaken by the town planner. Don’t always bank on the research being done though. Ask the planner are there any restrictions on the property such as flood potential (may need a minimum finished floor height certified by a land surveyor), contaminated land, land near a river or creek, any additional Govt Authority approvals, heritage item or area. The big advice will be the specific planning controls such as setbacks, car spaces, height limits, material restrictions, fences, private open space provision. These planning provisions suck up the available land space for your planned dwellings.
If all okay, then approach the neighbours to find any concerns. Town planning must take into account any objections lodged against proposals. If the neighbours know what’s planned they are less inclined to object, however sometimes this does go pear shapped. If you feel that the neighbours are a bit unreasonable then definitely arrange some meetings with the local councillors to head off a potential refusal of an application and see where they stand on unit developments.
Then get a town planning consultant or very experienced designer to submit your planning & building application.
I reckon if your design complies with all the Council requirements then the approval time can be around three to five weeks depending on the municipality. Anything complex or objections can blow the time out to 3-6 months. Be prepared to be flexible in the design to take into account any additional Council requirements via engineering, heritage, traffic, objections.Improve your nordic skiing – become an accredited instructor with http://www.apsi.net.au/nordic
“wondering how most developers buy land they want to put units on”
The objective is to “control” the land, which does not necessarily mean you “buy” the land.
A conditional contract [or “option”] is typically subject to planning approval, finance, etc. In many cases the option may require no money down – the length of the contract is also negotiated with the land owner.
There are no specific rules as such, the contract generally reflects a mutually satisfactory agreement between the buyer and the vendor [“seller”].
This approach has been used in some of the world’s most sought after real estate markets and does not have to be confined to markets where land is difficult to sell.
At times the land may be purchased or “flipped” without proceeding with the development because of the “demand” factor.
Always have a profitable exit strategy – whether you own the land or have a deferred option to purchase.
“how long does it take most developers to get the council to approve the buildings including getting plans draw up”
Planning approval and the time required to prepare working drawings depends on the projects scope and the Council you are working with.
“If all okay, then approach the neighbours to find any concerns. Town planning must take into account any objections lodged against proposals.”
The above is only necessary if the Council requires a notified application.
Often projects are only notified for public input if the project is outside the realm of the Council’s zoning provisions and/or bylaws.
If the design parameters, i.e. height through cosmetic finishes [color, etc], fall within the Council’s planning and/or design guidelines, the project will generally receive non-notified approval – without the need for public input.
— Michael
If you are a virgin in this area u need to allow a min. of two years for start to building/construction stage. Work out the realistic sale of the units at the end of the project and work backwards allowing fr interest and holding costs. Goal; you must make a 35% profit or DON’T DO IT – (my opinion) welcome to my world … Phil
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