ᐅ Process: Reserve a plot of land – find a builder/developer – arrange financing?
Created on: 8 Dec 2014 11:47
C
cordiHello,
we are trying to buy a building plot (new development area) from the local authority. What is the typical process?
Do I first express my intention to purchase the plot and then have enough time and information to find a builder and later arrange financing?
Or do I have to buy the plot first (including financing it) and only then look for a builder?
How is this usually done???? I am just starting out.
Thank you
we are trying to buy a building plot (new development area) from the local authority. What is the typical process?
Do I first express my intention to purchase the plot and then have enough time and information to find a builder and later arrange financing?
Or do I have to buy the plot first (including financing it) and only then look for a builder?
How is this usually done???? I am just starting out.
Thank you
B
Bauexperte8 Dec 2014 11:54Hello,
How about starting with clarifying your financial situation? What if it turns out that you don’t have sufficient funds to complete a construction project?
Your municipality will then inform you how they expect the process to proceed. There are also local authorities that require an approved building permit / planning permission free of conditions before finalizing the sale of the land.
By the way, you will find plenty of information here in the forum; but you will have to do the reading yourself
Regards, Bauexperte
cordi schrieb:
Hello,
we are trying to purchase a building plot (new development area) from the municipality. What is the usual process?
Do I first confirm that I want the plot and then have enough time and information to find a builder and subsequently arrange financing? Or do I have to buy the plot first (including financing) and only then look for a builder?
How does this usually work???? I’m just at the very beginning.
How about starting with clarifying your financial situation? What if it turns out that you don’t have sufficient funds to complete a construction project?
Your municipality will then inform you how they expect the process to proceed. There are also local authorities that require an approved building permit / planning permission free of conditions before finalizing the sale of the land.
By the way, you will find plenty of information here in the forum; but you will have to do the reading yourself
Regards, Bauexperte
This was our process:
Financial situation (framework) clarified with the bank
Plot reserved with the city
Builder selected
House planned
Financing finalized
Plot purchased
Waiting for infrastructure completion / city approval
Building permit / planning permission submitted, with final changes made beforehand
Start of construction
Financial situation (framework) clarified with the bank
Plot reserved with the city
Builder selected
House planned
Financing finalized
Plot purchased
Waiting for infrastructure completion / city approval
Building permit / planning permission submitted, with final changes made beforehand
Start of construction
T
toxicmolotof8 Dec 2014 23:00Above all, you probably won’t need to look for a building contractor but, alongside all the necessary steps, you should also take some time to consider which type of company offers you what.
For example, a building contractor provides you with a complete house including the land. And that’s not what you need.
For example, a building contractor provides you with a complete house including the land. And that’s not what you need.