Developer wants to buy some of my Garden

chickmug

myr90646 wrote: »

chickmug wrote: »

You must take professional advice now!

You must take professional advice now!

Silly question but would it be an estate agent that I would need to consult for a valuation??

You need to take a look at, yell.com, your local Chartered Surveyors and you should find that some specialise in 'Land and Development' matters. Then call but make sure they do not act for the developer you are dealing with. Also make sure by looking into their web site they are not pretending to to specialists when they may only be 'Jack of all Trades' pretending to be 'all things to all people'.

Or google "land and development chartered surveyor" in your area and see what comes up - good luck.

chickmug

http://www.rpcland.co.uk/index.aspx?pageId=1

Here's one I found

olias

I might be reading this wrong, but they are saying £15000 each for 4 gardens to put on one bungalow. Meaning £60000 for a building plot in Surrey!? And a value of the finished house of £240000 (if the value offered is 25% of property value)

You tell me where you can find a building plot in Surrey for £60K or a bungalow for £240K! I think a figure of more like £30000 for each garden would be nearer the mark.

I would also be very wary about this talk of bungalows anyway. Most developers in Surrey are buying up gardens to put up flats. Cheaper to build per unit and more profit. You may sell and then find him putting in planning for flats and getting it!

If you do go ahead and sell, make sure there is a watertight contract only allowing single storey bungalows, and I would also include in my negotiations for him to seperate the development with a 6' WALL, not fence, thereby maintaining your privacy.

As has been stated before, DO NOT trust the developer, seek proffesional help and advice

Olias

sharkie

myr90646, fancy giving us all an update?

I'm sure others beside myself are curious. Are you spending your newly found millions in some place warm and exclusive?

mynameisdave

If there was to be a collective sale, is it possible to put a restrictive covenent in the contract that no dwelling above x feet may be built on the land for x years? Would at least see how honest they are about the claim only bungalows will be built.

fatpiggy

Allow me to tell you what happened opposite a friend of mine. The developers spotted a terrace with long gardens and offered money for a portion of them. The first few house owners saw ££ signs and accepted. The others said no. The developers offered more money and one by one they gave in although the final ones got almost 4 times what the first one did for exactly the same amount of land. But the old lady at the very end hung on and flat refused to sell which p**sed off the developers no end. They duly built their 3 storey townhouses which were so tiny inside that the stairs had to be made especially narrow - and you couldn't get furniture up them! Eventually not a single one sold and they all ended up with tenants and not surprisingly are already starting to look a bit careworn because people don't tend to care if they don't own something (and we all know what some tenants, unfortunately, are like). I have no doubt the developers lost a fortune.

Frankly, they are offering you peanuts for that much land, and I wouldn't believe a single word about it being bungalows etc. anyway.

As others have said - get professional, impartial advice.