Qld Max is

$28k per lot for 3 bed or more

$21k per lot for 2 bed or less

Varies council to council

regards

HI

For rough numbers you will be looking at

$2200 for planners fees, around the same for council

$3-$5k for surveyor

$2-$5k each for sewer and water hookups

$28k for infrastructure contributions

If the blocks slope away from the street stormwater will be extra.

If you split front to back you will also need to provide driveway, underground power, telecoms, and possibly a fire hydrant

In QLD you doing the negotiations is sufficient to trigger the Real Estate Agent Licensing requirements

Hi Catts

I deal with Buyer's agents almost everyday.  The clients we share really like what they do and I have never heard a complaint.

Most common reasons they use buyer's agents

-time poor

-don't know market

-not good negotiators

regards

Cheers

 And is the water overland flow, waterway corridor or creek flooding?

Hi Donnie

There are multiple ways to structure this depending on the situation.

I would normally draft a contract like this that has 60 days due diligence and 12 months settlement, need to included consent to advertise and sell proposed lots prior to settlement also.  I would not normally include a subject to DA clause initially, it will help with negotiations. You would have a pre lodgement meeting with Council during the 60 day period and then if you can not have high levels of conference of an approval at this stage you then go back to the vendor and and say that you will only agree to DD clause being satisfied if they make contract subject to DA.  Vendor is already committed by this stage and if PLM shows issues it is usually easier to get consent at that stage then straight up.

Firstly, do you need to JV it?  Could you do a staged subdivision where you sell off the lots that do not require streets etc in stage 1 and then use those funds to complete the works required to sell off the next stage.  Can be more expensive than all in one go but then if numbers still work and it means you don't need investors.  

If you only have 1 or 2 investors than it may be desirable to investigate the use of partitioning.  Partitioning allows people (or entities) to buy one lot and then leave the development with owning the same percentage of the finished development without paying CGT or stamp duty.  They can then sell or hold their share and it is not affected by the other parties.

Otherwise buying in a unit trust structure which allows the sale of units later on, a comprehensive unit holders agreement would be necessary.  You would also establish a separate entity that would be the project management entity that would contract with the owning entity to do the development.  You control that entity.  Need comprehensive contract also.

I have bought a similar site this week but will be doing so without investors, am trying to buy the 15000m2 next door also.  Have also negotiated 3 other contracts for clients lately.

DD has all been 60 days

Settlement 6,10 & , 12 & 12 months

Consent to advertise and sell

If it is an Emerging Community zone your largest initial expense will be the Structure Plan.  You should not scrimp on this, a comprehensive structure plan includes preliminary approval for the different zoning, this allows you to change the assessment levels (eg impact to code) for the blocks as well as vary the conditions, setbacks, density etc.  A structure plan will cost you around $25k in planning fees alone, plus hydrological, civil, arborists, surveying etc.  Can be $100k.  Then you have the subdivision fees after that.

If not EC, you would be looking at around $2-$2.5k + $500 per lot over 3 lots.  Infrastructure contributions are $26k per lot.

Don't forget that you may have to dedicate some land to parkland, detention pits, road dedications, conservation easements etc.

PS, I always aim to get 50% gross profit on estates of this size.  They are not without risk, delays, cost overruns etc.  There should be substantial coin in it to make it worthwhile unless it is extremely straight forward.

regards

D

Get an experienced solicitor (OTP experience) to go through the contract with a fine tooth comb and see whether they can tip it more your way.  How well the building is selling will have an influence on your ability to push for changes to the contract.

You need to ensure that clauses are drafted in the contract that means that if the building does not start or finish construction on time and that this stops you being eligble to either the concessions or the grants the developer will cover your costs.  Again market conditions influence the likelihood of success, but if you are relying on those things and they want include them walk away.

D

No. All over the shop and make no sense to me.

I deal with a load of brokers, talk to them every day of the week.

Could a Mortgage Choice broker be a good one- yes.

BUT, are they going to be as good as some of the ones on here, extremely unlikely.

There are not many people who have the talent and experience of some of the brokers on this forum. I would use them everytime.

regards

D

Mortgage Broker every time.

 A Mortgage Manager is legally obliged to look after the interests of the bank.  A Broker is legally obliged to look after your interests.

PS there are some amazingly experienced brokers on this forum, you would be hard pressed to find a better source than right here.