Question 1

WHY IS MY LAND NOT READY?

Accepted Answer

We completely understand your eagerness to commence building your dream home right away – we share that sentiment. However, when purchasing off-the-plan, you're acquiring land that has not yet undergone full development. Riverside Waters and its contractors are dedicated to expediting the completion of each stage. Once your block is prepared after the stage's completion, we'll notify you when we're ready to register your land, initiating the settlement process. The advantage of this waiting period is that it affords you time to accumulate funds before settling the remaining purchase balance. Additionally, it provides an opportunity to plan and design your home, particularly beneficial if you're opting for a custom design.

Question 2

WHY CAN'T YOU GIVE ME AN EXACT DATE FOR TITLES?

Accepted Answer

Regrettably, providing a precise date is not feasible as it would entail furnishing inaccurate information. Numerous factors beyond our control, including weather conditions, unforeseen issues, service installations, and Council approvals, can influence the timeline. Rather than specifying an exact date, we offer a realistic timeframe for land titles and ensure to keep you well-informed as the process progresses.

Question 3

MY LOT IS FINISHED. WHEN WILL IT REGISTER?

Accepted Answer

After completing all land works, the next step involves submitting documentation to the appropriate Council for approval and obtaining clearance from relevant authorities such as water, power, NBN/broadband, etc. This process usually takes 4-6 weeks after the completion of the works. Upon receiving approval from all entities, we can proceed to lodge the necessary documents at the Land Titles Office (LTO).

Question 4

CAN I ACCESS IT?

Accepted Answer

Not exactly. From a legal standpoint, the land doesn't become yours until the settlement is complete, and for safety reasons, access cannot be granted. In certain situations, we may facilitate special entry for valuation purposes, and you can arrange this by reaching out to our sales team.

Question 5

WHAT IS STATEMENT OF COMPLIANCE?

Accepted Answer

The Statement of Compliance (SOC) signifies that we have obtained approval from all relevant authorities, confirming that the services and assets within the stage are correctly positioned. These encompass water, power, broadband, and similar elements. Issued by the Council, the SOC serves as their confirmation that all stipulated requirements have been met. It is imperative to include the SOC with all the documentation being submitted to the Land Titles Office (LTO) in the subsequent phase of the process.

Question 6

WHAT HAPPENS ON MY SETTLEMENT DATE?

Accepted Answer

Upon obtaining your titles, settlement marks the official transfer of ownership of your land to you. Typically, legal representatives representing both parties (you and us) and, if you opt to engage a conveyancer or solicitor, along with your lender, attend the settlement process. During this event, you'll settle the remaining balance of your purchase price. Your conveyancer or solicitor will also ensure the registration of all title documents, reflecting the change in land ownership. Following this process, it's time to rejoice in officially owning your block! Moreover, you could potentially commence building your dream home in just two weeks.

LAND TITLE FAQ's