Stupid but serious question.

Viewing 4 posts - 1 through 4 (of 4 total)

Justin11
Participant
@justin11
Join Date: 2015
Post Count: 1
July 15, 2015 - 9:02 am
Has anyone ever given their land to a property developer and sought a unit on their own land as a trade?
Situation is that I have a block of land that has an existing dwelling on it that is just about condemnable.
The quotes given to me by real estate agents to sell as is appear to be vastly underpriced for my area and location.
I myself do not personally want to go down the planning and permit path and is it even an option to approach a builder and say if they take care of all the legalities they can have the land if I can have one of the units.
I am almost certain that 3 small units can be developed on my 725 square metre block.
Sounds silly, but If you don’t ask you don’t know.
Benny
Moderator
@benny
Join Date: 2002
Post Count: 1,416
July 15, 2015 - 3:34 pm
Hi Justin,
I’m sure I have heard of such things happening. Of course, it will all come down to “the numbers”, and these will emerge based on the location, the Council, and the builder themselves.
Hopefully someone who has done (or is doing) deals like this can step in to give you better direction, but good one for asking anyway.
Benny
Jacqui Middleton
Participant
@jacm
Join Date: 2009
Post Count: 2,539
July 15, 2015 - 7:08 pm
Slightly messy. To minimise CGT you would have to “give” your land to the developer before construction, and would then have little to no certainty you’d get a unit in return. Be very careful and talk to a solicitor first.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone Me
VIC Buyers' Agents for investors, home buyers & SMSFs.
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
July 16, 2015 - 6:51 pm
Jacqui Middleton wrote:
Slightly messy. To minimise CGT you would have to “give” your land to the developer before construction, and would then have little to no certainty you’d get a unit in return. Be very careful and talk to a solicitor first.
00
Rate this
Not necessarily. Many ways to structure something like this. Will depend on a lot of things though
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au