Valuation on subdivison lots

Are there any lenders that accept conditional approval from the WAPC to value land as separate titles? Cant find a lender that will accept proposed subdividision..

 

Why should they give you money and hope that you go ahead with the project? Sounds like youre looking to borrow against the land not get development funding so what youre looking for is impossible.

There is a lot to do before you create separate titles

 

It takes 9 months to subdivide, If the lender allows me the borrow based on the value of the proposed titles then I can build in the meantime. Is this not common or?

 

I have no idea how many other ways i can say no to you.

You cannot get a residential loan for your block of land against the proposed value of creating your 20 blocks. You can ask the question in 100 different ways if you like and you will get the same answer. Youre asking to receive the rewards of work you have not even begun let alone finished.

Imagine going to a builder, agreeing on a price of say 300k to build a house and them asking you to give them 200k upfront when they have not started work yet. Would you?

There are circumstances where you can get a commercial/development loan to fund the subdivision of the 20 lots and it is not an easy task to get that loan if you have insufficient experience in their eyes to give them the comfort you can pull it off.

Are you budgeting 9 months from start to finish to create and title 20 lots? I dont see it happening personally.

 

It is common to build first and subdivide later. But it's not common or if fact impossible to get a valuation based on potential subdivision.