Forum Replies Created
I’m in QLD so WA law won’t help me here. But thanks for advice.
I agree that to be on the safe side to find a way to settle. I acknowledge that I own the plans etc and I take “some” comfort in the knowledge that the vendor(s) or another developer would have to spend substantial money to put in a re-submission of some form to council – plus it could take a long time. So hopefully the vendors will agree to an extension on the contract to allow me time to flip the project (even at a very competitive price to get what it owes me). But in the past the vendor has been “difficult” and given this has taken years to get to this stage, their patience has all but gone! So an extension may not happen of they dig their heals in.
Private Money !!!!!!???? Have been trying for six weeks or more. Spent a lot of money with “brokers” who give me an “indicative offer” but then nothing happens after that.
Anyone know of a good source for private money to settle on purchase?
Thanks for the feedback.
As there are more than one vendor across the four titles I imagine that would make matters a little more complicated, but there is nothing stopping them getting together and forming a joint venture to sell the entire parcel to a developer with the DA in place (assuming they are shrewd enough and get on together!). And one of the vendors would need to take the initiative and lead this.
Regarding the plans. I assume the new owner of the land (or the current owners) could apply for some type of change to the DA with new plans, providing they keep to the same parameters as granted (eg, 2 storey, 30 units, density…. etc)?
Am I correct in the above?
I now see this as a major risk.
