Building on Land in Perth
Aug 22nd 2003, 8:01 am
#1
Forum Regular
Thread Starter
Joined: Feb 2003
Location: Essex, England
Posts: 67
Building on Land in Perth
I wonder if anyone can help?
If you purchase land in Australia before becoming a PR you require approval by the FIRB and must commence building by the date that they give you (12 months from approval).
The question that I have is, if you still do not have your PR and you have built a home on the land, can you sell this on, as I know that you can not sell the vacant land.
I would be grateful if someone could help as this will depend on whether we continue to purchase the plot of land.
Thanks
Clare
If you purchase land in Australia before becoming a PR you require approval by the FIRB and must commence building by the date that they give you (12 months from approval).
The question that I have is, if you still do not have your PR and you have built a home on the land, can you sell this on, as I know that you can not sell the vacant land.
I would be grateful if someone could help as this will depend on whether we continue to purchase the plot of land.
Thanks
Clare
Aug 22nd 2003, 10:25 am
#2
BE Forum Addict
Joined: Jan 2003
Location: Brisbane
Posts: 1,576
I'm no expert but I don't see why you cannot sell the house or even the land if you've not built on it. The thing is you've got to sell to someone with PR or residency in Australia otherwise they will need to get FIRB approval, just like you had to to buy in the first place.
I don't know how difficult or easy it is to get FIRB approval.
I don't know how difficult or easy it is to get FIRB approval.
