Hi team,
I was wondering if anyone has any experience buying land that has a rural zoning on it? I have some questions that i am looking to get answers for:
1) Can you build a house on it?
2) If so, can you live in this house permanently?
3) And if you can build and live there, because of the zoning, do you have to be “producing” something off this land to be able to live there permanently?
4) Also, if you can live there, is it possible to live there on a part time basis? i.e as a holiday residence?
Secondly, has any one had any experience with a contract that has a ‘Sunset clause’ in it?
I have not heard of this clause before but would be a great help to understand prior to us negotiating a current potential property purchase.
thanks a million! [cap]
It is only your thoughts that create your future – Be careful what you think!
1) Can you build a house on it?
2) If so, can you live in this house permanently?
3) And if you can build and live there, because of the zoning, do you have to be “producing” something off this land to be able to live there permanently?
4) Also, if you can live there, is it possible to live there on a part time basis? i.e as a holiday residence?
Hi Nathan
My understanding of my area and zonings is that rural zoning is land that has been or is still used for agricultural purposes.
If I were purchasing a block that had rural zoning I would want a building permit already approved if I wanted to build a house.
If you are serious about the land and building a house you need to speak with your council before you go any further.
hope this helps.
Nathan,
A sunset clause simply means that in your offer you include an expiry date and time. eg. “this offer is valid until 4pm Fri”.
By using a sunset clause you motivate the agent to forward your offer on to the vendor in good time, and you motivate the vendor to make a decision on your offer, rather than sitting on it for a few weeks while he waits for a better offer.
Best of luck!
Adam
Don’t let life get in the way of living.
Nathan
Certainly rural zoning is more common in agricultural areas of small regional towns but you can certainly build on rural zoning subject to the Local Council Town Plan.
Many of the properties I finance in some of the smaller regional towns are either rural or residential rural.
Adam has explianed the meaning of Sunset Clause and is known as such as in oldern times the provision was just that a condition that expired at Sunset.
Richard Taylor
Residential & Commercial Finance Broker
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
“Secondly, has any one had any experience with a contract that has a ‘Sunset clause’ in it?”
It can be more than just the offer period. It is not possible to create an eternal contract, so when there is a contract drawn up that is conditional on an event that may never happen, a sunset clause needs to be added. E.g. “settlement to be within 30 days of the property being rezoned resdiential R20” the sunset element may be somethign like “should this rezoning not have occurred by clos of business 30th June 2007, this contract shall be at an end without penalty to either party”. soemthing like that anyway…
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
Thanks AUSPROP – That is a good one to remember!
Adam
Don’t let life get in the way of living.
Thanks for the replies!
AUSPROP, your explanation of the ‘sunset clause’ was very appropriate for our situation, thanks heaps!
[cap]
It is only your thoughts that create your future – Be careful what you think!
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