The Australian market is currently grappling with a notable under supply of land, prompting the sale of land at a distance from its build-ready state. We want to help clarify the land titling journey, so we’ll explore the process, potential delays, and the benefits of purchasing untitled land.

What is the Land Titling process?

At its core, land titling is the transfer of a plot from the previous owner to you, particularly relevant when purchasing off-the-plan from a developer. Titles, or Certificates of Title, serve as legal documents issued by governments, detailing lot specifics and owner information.

Titled lots already have a title, meaning the land transfer can happen immediately. Once your land is titled, you can commence the construction of your home.

Untitled lots do not yet have a title, as they may still be under development or recently completed. You need to wait for the Certificate of Title to be issued, which will affect your settlement date.

Contents of a Certificate of Title:

Covenants: Restrictive agreements between landowners, limiting land use, clearly noted on your land title certificate.

Caveats: Warnings signaling existing interests with priority, crucial for potential property dealings.

Easements: Rights allowing someone to use another’s land for specific purposes, outlined in the land title, potentially affecting your building plans.

Duration of the Land Titling Process:

Once you have signed a Contract of Sale with the Vendor (land developer), they will then let you know the expected title date. The title process typically takes around 12 – 18 months before the developer transfers the titles over to the buyer. Once it has been transferred the land is ready to be built on (titles are issued by Land Registry Office and usually take up to 10 business days once all civil works approvals have been met).

The Land developer (vendor) will be in touch with you 8 weeks before the “expected” title date (the developers are taking into consideration the 10 business days the Land Registry office will take to issue the title) with important information. During this period organise your finances, and your lender will organise a valuation of the land and engage with a conveyancer who will help transfer the land title to you.

Delays in the Title Process:

Several points need to be factored in the titling process. Delays can happen at any point during construction, utilities, council delays, and bad weather, all of which impact the titling of land. With land currently in such high demand here in Perth, untitled land is becoming an increasingly popular choice amongst buyers. Unfortunately, this boom is increasing the pressure on developers, which is adding time to title land.

Why can’t you give me an exact date for titles?

As there are so many factors that can impact the date , such as weather, unforeseen matters, installation of services and Council approvals – all of which can play a part in the process. Instead, land developers will provide a realistic timeframe for land titles and will always keep you informed in the lead-up

What are the benefits of buying untitled Land?

Locked-in Land Price

Land has historically increased in value overtime, so while you are waiting for your land to over time, so while you are waiting for your land to be titled, the value of it may have increase.

Reduced Stamp Duty

Lower stamp duty for unregistered land compared to established properties.

Market Accessibility

Untitled land offers you an opportunity to get your foot in the door in demanding and emerging markets.

Payment Flexibility

Following the initial deposit, the remaining balance becomes payable upon the completion of the land being titled, giving additional time to save or enhance your cash flow.

So if you decide to opt for titled or untitled land, knowing the ins and outs of the land titling process equips you to make the best-informed choices for your home journey.  As a prospective homeowner, navigating the complexities of land titling can help ensure a smoother transition into your dream home. Here at New Generation Homes we can help you explore your different options in this current market and embark on your journey towards home ownership with confidence.

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