Gooday
I’m looking at a property that is an attached dual occupancy – on one title. Land size 860sm. Property has potential to be either sub divided or strata titled- & later sold off as 2 properties. Its a brick & tile joined by 2 side by side garages.Initial inspections indicate it is separately metered & fire protections in place.Question is which is the better way to go ? Sub division or strata title.The offer: A conditional offer is being proposed. How would that be worded ?What exactly can I apply for at Council while the property is under another individuals name/title ?And what are council going to be willing to provide given it is someone else’s property ?Is the offer made conditional on my making the application to council w/ the owner’s consent ?Calls to Council have resulted in my being advised that if a Building Certificate has been issued in the last 2 years then an application to strata/subdivide can be made based on ‘it being an exempt development application’. Again what rights do I have to apply while the property is in anothers name.Look fwd to someones expertise !Hi Sogni1,
Copied this from the other post you doubled up on so you wouldn't miss it.
Question is which is the better way to go ? Sub division or strata title.
I think you would need to strata. Especially if the property only has one sewer connection and if there is common property. eg shared underground plumbing and electricals and joining walls.
The offer: A conditional offer is being proposed. How would that be worded ?
See your solicitor and they will word it for you. You may be able to get the vendor to take it off the market for a week or two so you can do your investigation. Which state are you in?
What exactly can I apply for at Council while the property is under another individuals name/title ?
And what are council going to be willing to provide given it is someone else's property ?Council should answer this. Go and speak in person with the relevant department that handles strata approval.
Is the offer made conditional on my making the application to council w/ the owner's consent ?As above, ask if they are willing to give you time to check it out.
Calls to Council have resulted in my being advised that if a Building Certificate has been issued in the last 2 years then an application to strata/subdivide can be made based on 'it being an exempt development application'.This means that you don't have to lodge a DA but still will be up for some costs. I paid council around $350 to do the checks to enable the strata plans to be signed off. Once this is achieved then the rest is merely processing with the titles office. Not sure of the process if the property is over 2 yrs. I guess you will have to lodge a DA and submit more documentation, advertise the proposal, etc.
Again what rights do I have to apply while the property is in another's name.
See your solicitor
Look fwd to someones expertise !
My expertise is pretty limited to one project in NSW but I hope it helps. Keep your eyes wide open and get sound legal advice from a professional. It's worth paying someone for peace of mind.
Good Luck, Ian
Thanks Ian . Gradually putting the pieces together !
Cheers
Ian
From our experience:
Strata increases value +++
Check with a local Surveyor – we did & it saved us heaps in solicitors fees
Local council are very helpful, not ogres
Keep clauses simple – subject to due dilligence – just give yourself enough time to complete.
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