Hi all,
Not sure if “off the plan” is the right way to descibe it.
I want to buy a block of land, with the view to build my PPOR in 12-18 months. There are a couple of estates in my area which I’m happy to live in. Who should I talk about to “put my name down” for sites which will be developed in the next few months?
I don’t particularly want to buy overpriced land which is from a RE agents window… and people keep telling me to “put my name down”. Could someone clear this murky puddle up for me? [blush2]
Well I’m not sure if I’ve understood you correctly but I’ll try to answer. When land is advertised in the REA window, its already been sold at least once and is owned privately so you only have the choice of that one block.
If you put your name down because you are interested in a block in a new development, then you get the opportunity to choose which block you want to buy. (Unless you live in WA where there is high demand for land and its often sold by a ballot draw).
You can “put your name down” with various developers and the best way to find where the developments are is to drive around the areas you like and take note of the advertising signs you see. Then, you call the office to register interest. They then put you on their mailing list so you know when the blocks will be offered for sale. Or you can use the net to register your interest if you know the developer names. Also you can check the saturday papers and see who the developers are and contact them that way. It helps if you can can narrow down the areas you like. You will soon start to get notifications of when the land is released, you can attend the sale rooms or auctions and start to get a feel for values and asking prices. Good luck!!
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