Has anyone bought land and built themselves?

AbbyG


Joined: 26/11/2007
Posts: 113

Message Posted:
12/03/2008 10:58

Hi all



Is there ANYONE out there in the C44 forum population who has bought a plot of land then built on it? Would be very interested to hear how the whole process went.



Cheers



Abby

paul90


Joined: 07/11/2007
Posts: 350

Message Posted:
12/03/2008 11:14

Hi Abby

We bought 1 donum of TMD land in Karsiyaka in May 2007 through estate agents Donaghy and Beyler.

We have a separate contract with Sydney Construction for a house that will be complete in May 2008.

We paid stamp duty at 0.5% on the land and the contract is stamped and with our advocate. The land vendor is going to register it at the Land Office this week.

Our advocate still expects that it will take about two years from May 2007 before we get PTP and deeds.

So far so good but we are always prepared for the unexpected and recognise that we may have to pay some compensation at some date in the longer term, but hopefully at 1974 valuation. Remember that if you "improve" the land (by building on it) your case to keep it should be much stronger.

AbbyG


Joined: 26/11/2007
Posts: 113

Message Posted:
12/03/2008 11:41

Hi Paul, thank you so much for your quick response. You are the ideal person to answer my questions because you have been through the process that I am embarking upon. I hope you don't mind if I contact you off board with some questions.



Cheers



Abby

paul90


Joined: 07/11/2007
Posts: 350

Message Posted:
12/03/2008 11:42

Please do so.