Suvdivision and Settlement Process

Hi guys, can someone advise me if these steps are correct? We are building a dual occupancy in Melbourne and are running a bit tight on time. I want to know if i am on the right track post construction.

1) Construction ends
2) Occupancy Permit
3) Certificate of Final Inspection (council)
4) Lodging in SPEAR (15 days)
5) New Titles and settlement

Are these correct? Can someone please advise how long these things take? Will we be able to finish all of these within 2 months after construction ends and Occupancy Permit issued? Thanks

 

What about consent from the mortgagee?

 

We don't have a loan right now so the whole project, it's all self funded.

 

You don't need to wait until the end of construction to start the subdivision process

 

Thanks guys. So will we be able to get new titles within 2 months? This estimation reasonable? Once council is happy with the final inspection? We are in VIC. Thanks.

P.S Sorry i think i meant 3) Statement of Compliance (Council)

 

After statement of compliance it takes generally a month or so, give or take. This depends on your surveyor releasing your sub documents to your lodging party immediately following statement of compliance, the lodging party doing their end, and the land registry (titles office) examination. 2 months should be plenty, but you never know, there is always the risk of something going wrong, or your subdivision is audited, which then adds to the time.

 

Thanks Lixas4. Appreciate the help.

 

General rule of thumb: allow up to two months from Statement of Compliance to reach Settlement

A lot of coordinating with your solicitor will take place until lodging docs to Land Titles Office (allow two weeks) and then allow 4 - 6 weeks for LTO to issue titles.