"Retroactive DA" and Approvals (BIC) - How we can help you?
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Meet Alex, a seasoned real estate agent who is handling the sale of a luxurious high-value property. As the sales process progresses, Alex uncovers an unexpected hurdle – the property's unapproved renovations, which are causing concern among potential buyers. Determined not to lose the sale, Alex and his vendor decide to engage The Independent Group, our company specialising in Building Information Certificates and property solutions.
Introduction
Alex, on behalf of his vendor, contacts us after having previously met at a local networking event and lets us know that the potential buyers are hesitant due to the regulatory uncertainties surrounding the modifications. Recognizing the urgency, Alex seeks our expertise to address this issue and salvage the sale.
Initial Meeting with the Real Estate Agent
We schedule a meeting with Alex to understand the situation in detail. Alex explains the property's features, its market value, and the concerns raised by potential buyers about the unapproved renovations. We discuss the potential impact on the property's value and the importance of legal compliance for prospective buyers.
Assessment and Planning
After analysing the situation, we propose a strategic plan. We suggest coordinating inspections by professionals, including builders, electricians, and plumbers, to assess the unapproved renovations. This comprehensive assessment will help determine the necessary improvements to bring the property up to standard.
Professional Inspections and Assessment
We work closely with Alex to organize the inspections. Our team of professionals conducts thorough assessments of the unapproved renovations, identifying areas that require attention. Their findings are compiled into a detailed report outlining the necessary changes and improvements.
Engaging the Real Estate Agent
We present the assessment report to Alex, who uses this information to address potential buyers' concerns. Armed with expert insights and a clear plan for compliance, Alex demonstrates transparency and commitment to resolving the issue, instilling confidence in buyers.
Council Application and Compliance
Upon agreement, we assist Alex in preparing and submitting a retroactive DA application (formally known as a Building Information Certificate) to the local council. We outline the documentation required to demonstrate the property's improvements and our plan to bring it in line with regulations.
Project Implementation
Once the council approves the retroactive DA application, we oversee the execution of the recommended improvements with subcontracted qualified trades. Our coordination ensures that the work is carried out efficiently and in compliance with standards.
Final Inspections and Resolution
After the improvements are completed, the same team of professionals conducts final inspections to ensure that the renovations now comply with regulations. They provide the necessary sign-offs and documentation to validate the compliance.
Achieving the Sale
Thanks to our company's expertise and proactive approach, the high-value property's unapproved renovations are resolved. Alex can confidently assure potential buyers that the property is now fully compliant and that they will not face any regulatory issues.
Successful Outcome
The property's value is preserved, and Alex successfully sells the high-value property with the assurance of compliance and legal adherence. Alex's commitment to finding a solution and our company’s expert assistance make this a win-win situation for both the real estate agent and the prospective buyers.
