Hey guys,
I have the following problem: we bought some vacant land about 2 years ago (before I knew anything about investing..) and it had DA approval on it before (lapsed about 2002). We want to get rid of the land and we currently have a buyer, but he's first waiting to hear from council if he can build there. Apparently they've tightened their criteria (it's in the bush, bushfire hazards etc), so there's a chance they might not approve and then we're stuck with a mortgage for no reason.
Anyway is there anything I can do (will take 2-3 weeks for council's answer) or do I just wait for an answer?
I cant imagine they will deny your buyer from bulding a house, otherwise the land would not have been approved to be split in the first place. They may ask you (or the buyer) to change the design from the original plan that was approved in 2002, but i doubt they will say no altogether to building a home there.
As far as i know, all you can do is wait, but i have a feeling if the council has something to do with it, you will be waiting for longer than 3 weeks…
thanks for the reply, hope everything goes through in the end so that we can put the money into something more useful
Daniel
If the land zoned for residential dwelling then a dwelling can be build. It should take about 5mins to find this out.
If you want to build as per previous approval you will need to see if the design meet current regulations – your architect should be able to advise you on this without to much fuss.
Alternatively you can meet with a planner from the council to discuss the existing plans.
I am an architect, if someone came to me with this question i'd have the answer in days not weeks.
Regards
David
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