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In my block of 8 units (3 levels high), mine is on the ground floor and the only one that is street-facing.
There is a small parcel of land out front- approx 3m x 7.8m that is barren and unused (once upon a time it was a garden but several years ago all the trees/ shrubs in it were cut down and never replaced).
I want to purchase it from the BC and add it to my title (not lease it or anything like that). Not only will it give me an outdoor space, but it will provide much needed curb appeal to the building and look uniform with all others along my road (all other properties on my road that have front yards/space have it all fenced off at the very least).
When I told my BC about my intentions, they were not thrilled by them (borderline discouraging?) and suggested such an offer should be around the $40k mark (which is my higher than the $5k- $10k real estate agents have quoted me given its unmarketable land).
When I’ve read on forums and other pages, the process for proceeding with the transaction – assuming all other lot owners are in agreeance- is still an enigma to me (and the BC don’t have any guidance to give). I’ve seen lots of wild numbers thrown around for the process side -approx $20k in some cases. It wouldn’t make economical sense to spend $10k on the purchase if that and the process rings in at $30k.
Before I even do a ballot/ special motion (which will cost a pretty penny as it is), who are all the professionals/ people I need to get quotes from to ascertain the feasibility of my endeavour in Victoria? If I need to spend a small amount upfront as part of the discovery phase of this ‘project’, I’m prepared to do that.
TIA
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