Selling Vacant Land
Things to consider when selling any property include:
- legal advice;
- chattels and fixtures;
- land measurements;
- renovations, extensions and recent building work;
- rates and taxes;
- connection of services;
- zoning and town planning;
- auction or private sale;
- access to property;
- release of deposit;
- certificate of title;
- representations; and
- capital gains tax.
Also Consider When Selling Vacant Land:
- COUNCIL RESTRICTIONS: Are you aware of any local council restrictions which would prevent a purchaser from building/developing the land?
- CONTAMINATION: Has the Environmental Protection Authority (EPA) issued you with any clean up Notices?
- LEASE: Is the property is subject to a lease or any other form of tenancy or licence?
- GST: Consider your GST position. Is the property being sold inclusive or exclusive of GST? Make sure the Contract clearly addresses your GST position.
- ZONING & PLANNING: Is the property correctly zoned? Are you aware of any breaches of the local council’s Planning restrictions?
NOTE: This is information of a general nature only and cannot be relied upon as all encompassing. You must seek legal advice specific to your purchase and never commit to an agreement unless you have obtained that legal advice. Contact us for further information.