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Discussion in 'Development' started by andnic, 15th Apr, 2019.

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  1. andnic

    andnic Member

    Joined:
    7th Oct, 2016
    Posts:
    24
    Location:
    Melbourne
    Hi All,

    We have plans and permits approved to build one out the back.
    Unable to get any finance for the build or just do the subdivision.

    What options are available re selling or doing a JV with someone else doing the build?
    IE is it possible to sell the rear block to someone willing to do the subdivision?
     
    andnic, 15th Apr, 2019
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    42,003
    Location:
    Australia wide
    It would be difficult for someone to borrow to do the construction if they are not an owner of the land - it can't be mortgaged by them. But someone with 'cash' or borrowing against other land could do a JV with you or lend you the money to complete.
     
    Terry_w, 15th Apr, 2019
    #2