All Topics / Help Needed! / Very Urgent Info Required, Can builder/property developer sell a New off the Plan townhouse Before even Loding a DA with Council

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  • Profile photo of desiluckydesilucky
    Member
    @desilucky
    Join Date: 2011
    Post Count: 34
    May 12, 2011 - 1:59 am

    Hello All,,
    Anyone here with info on my above question pls assist, I would urgently Like to know that Can a builder sell the townhouse before lodging a DA with council.. The property was sold to me a while ago, and the DA is now being lodged,,,, Has anyone got an idea is this legal,, or not………….

    Awaiting your response peps,,,

    Thanking in Advance,,

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    May 12, 2011 - 2:54 am

    Yes he can. 

    Most development deals are funded that way.
     
    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539
    May 12, 2011 - 4:30 am

    Remember – get a solicitor to look over the contract of sale for you.

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
    Email Me | Phone Me

    VIC Buyers' Agents for investors, home buyers & SMSFs.

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856
    May 12, 2011 - 5:29 am

    If the project doesn’t get approval, then the sale falls over.

    Profile photo of Charles 1Charles 1
    Participant
    @charles-1
    Join Date: 2010
    Post Count: 65
    May 12, 2011 - 9:16 am

    Yes it is legal.
    But even if the DA is lodged it may not be approved by council and even if it is approved, the construction may not go ahead.

    Lot’s of problems in buying off the plan!

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