All Topics / General Property / 2 titles?? what does this mean.

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  • Profile photo of marklesliemarkleslie
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    @markleslie
    Join Date: 2007
    Post Count: 19
    October 1, 2007 - 9:58 pm

    Hi guys, a quick question. What does it mean if someone is offering a property for sale on 2 titles?

    Are there any benefits of this for a buyer?

    Thanks

    Mark.

    Profile photo of m.pulleym.pulley
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    @m.pulley
    Join Date: 2006
    Post Count: 45
    October 1, 2007 - 11:09 pm

    This means you are buying two blocks of land.

    If the house (I presume there is a house) is on one of the titles and the other block is clear, this is a benefit as there are no subdivision costs. Also a benefit if the existing house is to be demolished. If there is no house or any of the other cases mentioned, a benefit exists if the price is lower than it would nomaly cost for the two titles seperately.

    Hope this helps,
    Regards,
    Mark.

    Profile photo of HandyAndy888HandyAndy888
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    @handyandy888
    Join Date: 2005
    Post Count: 160
    October 2, 2007 - 2:28 am

    Possibility of future subdivision and playing around..in "the olden days", the government used to release small blocks, like 400m, and councils with new regs, required minimum sizes, so it was often the case that two of these small blocks were pruchased out of necessity…my 810m block is made up of 2 small 405 blocks..as I understand it, thats how the government used to pay their servicemen…hope this helps, good luck!!!

    Profile photo of marklesliemarkleslie
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    @markleslie
    Join Date: 2007
    Post Count: 19
    October 2, 2007 - 2:34 am

    the property I am looking at is a house on 2000sqm (2 titles). Asking price is 205K and currently being rented for 170 p/w.It looks as though the house is situated on one side of the block and there is a colourbond shed on the other side.  Do you think this would be able to be subdivided & if so does this sounds like a prospect that should be investigated more??

    thanks

    Mark.

    Profile photo of m.pulleym.pulley
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    @m.pulley
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    Post Count: 45
    October 2, 2007 - 4:45 am

    Sure,
    Ask the council.
    Mark

    Profile photo of Mortgage HunterMortgage Hunter
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    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781
    October 2, 2007 - 6:11 am

    it is already on two blocks of land.  You wont even have to subdivide it. 

    Just sell of the second block if you wish as long as the house is completely built on one block with the necessary room between it and the boundary.  if it is a Qlder you can move it accross quite easily.

    It depends on the price as to whether it is a good deal or not.  They may have already factored in the potential value of the second block.

    Get all of this checked out before you make a decision – you cannot rely on the opinions of a bunch of strangers like us!

    Profile photo of wwsurveywwsurvey
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    @wwsurvey
    Join Date: 2004
    Post Count: 23
    October 3, 2007 - 3:49 am

    Hi Mark,

    Same response as Simon, if the structures are seperate (ie on one lot) no need to subdivide.  If the boundary is not where you like it you could do a boundary adjustment and in my area any change less than 10% doesn't need council approval. (check it out with you council).

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