Hi everyone,
I have been lucky enough to find a person who is looking to sell their backyard to me. It is situated on a corner block with the potential of sticking 2 units with street frontage.
The question I have is there an "off the self contract" I can obtain as I will only go ahead with the purchase if I can get two on their. Well actually I probably go ahead with it at a discounted price if I can get one.
I have developed my other properties but these have been done via the old buy, obtain planning approval and then build method so i have some experience but nothing like this.
What other things should I take into consideration? any advice will be much appriecated
thanks.
Condition the sale contract subject to DA for 2 units (within a reasonable timeframe) and subdivision of the property by the current owner – it may be possible to buy this site using an option contract (small fee which is then included as part of the purchase price if you proceed but forfeited if you don't ). If you don't get the DA, have a fallback of a lower price. Then there would be nothing too different from buying, getting approval then building.
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