14 June 2012

Coombs Ballot

14 June 2012 | toadstool

The ballot for Coombs was drawn today and it looks like a total of 904 people registered for 190 blocks.

We were drawn somewhere in the middle of this, so I guess it’s unlikely we’ll get a look in. Or will we?

I assume that not all the first 200 or so will actually end up choosing a block through a number of factors such as cost or their choices already being taken when it comes to their turn.

So, considering we are 458 on the list, is there anyone out there who had experience of past ballots where they were far down the list, but still had the opportunity to choose a block, and actually got a block they were happy with?

Considering we will have to put a 10% deposit down when choosing a block, so we will have to go through a process of at least getting a loan or a deposit bond, is it worth the hassle if it’s not likely there will be anything left when it gets to our turn?

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woodman8:17 am 17 Jun 12

Yes, you do have a good chance. Many people pull out of these ballots closer to the time or simply do not show up on the day. I have been to many ballots where people will have their number called go up have a look what is left and walk away with nothing.

Ring the LDA and ask if you can change your application to land rent. Why should you fork out at least $30k of your hard earned cash for a deposit on a block of land when it won’t be ready for 2 years?

If you are able to change to land rent you do not pay anything (unless you have another block on hold with land rent, then you pay $1000). Closer to the time you can then advise the LDA that you are in a position to buy the block outright and change your contract.

It’s to early on a Sunday morning to work out the interest payable on 30-45k over two years but I’m sure it’s a lot.

Also local builders will get a lot of these available blocks on the land rent scheme and then advertise for sale. You can always go down that path if you miss out.

Good luck with the ballot.

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