We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Buying a home with a Compulsory Purchase Order
besonders1
Posts: 582 Forumite
hi, I am interested in a really nice property going below market value for £35,000 but the estate agent has told me this is because it has a Compulsory Purchase Order on it. I have looked this up on the internet but cannot find much about what this means if I was to buy it outright. Does this mean that the house will be pulled down soon and if so would I be eligible for compensation from the counsil if this happend 6 months later after purchasing? Any advice appreciated.
0
Comments
-
-
Essentially it does mean what you're saying. The risk is in what constitutes market value in these areas.
You will also need cash to purchase it, I'm sure.Everything that is supposed to be in heaven is already here on earth.
0 -
You really need to know why it has a CPO. If it is to place a bypass, then it's going to come down, so forget it. But if the council are just trying to deal with an eyesore, it could be worth while, but you will need to discuss with the council and come to some understanding in writing over what must be done and on what timescale if you are to buy. In this scenario, they may be grateful.After the uprising of the 17th June The Secretary of the Writers Union
Had leaflets distributed in the Stalinallee Stating that the people
Had forfeited the confidence of the government And could win it back only
By redoubled efforts. Would it not be easier In that case for the government
To dissolve the people
And elect another?0 -
hi sorry for the late reply and thanks to everyone who responded. Looks like my suspicions have been confirmed as this house and the area s too good to be true for that price! I am going round to view it so I will see whats going on with the CPO.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.9K Banking & Borrowing
- 253.9K Reduce Debt & Boost Income
- 454.7K Spending & Discounts
- 246K Work, Benefits & Business
- 602.1K Mortgages, Homes & Bills
- 177.8K Life & Family
- 259.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards