Untitled land in aurora

I bought untitled land in the aurora estate in wollert which will title in April 2018 but it will be at least 2 years before completion if I choose to build. By then house prices in established areas would increase and become more profitable. Any advice on whether untitled land could be sold before settlement? There is an onselling clause-developer must approve before I put it on the market. This shouldn't be a problem as I will show them I have bought another property and can't get finance. Any advice would be much appreciated on selling untitled vs titled land. Would appreciate it even more if you have been through a similar situation with lend lease.

 

Most of the developers have a clause in the contract that says you can't sell the land without building a house on it.
Check with your conveyancer who helped you reviewing contracts when you purchased it.

 

A standard clause in off-the-plan contracts (especially land releases) prevents purchasers from re-selling the property prior to settlement without the vendor's prior permission. This is because the vendor is controlling the market and their selling agent's commissions. Even if the vendor agrees, you will almost certainly not be permitted to profit from on-selling without the vendor taking a cut of your profit.

Even once the land is titled, there may be restrictions on reselling before a house in built. Read the fine print in your contract carefully.