Buying Land

centre13

Could someone give me their view on buying land. I have invested in property in the past and it has worked out very well but I fear I am being priced out of another move. I have seen land that has been granted planning permission and as you know the price reflects this. What can I do after identifying land that has not had permission granted before taking the gamble to buy it in the hope that it will. who do I contact, costs, time etc. I know I need to contact the council for the area.

Debt_Free_Chick

centre13 wrote:

What can I do after identifying land that has not had permission granted before taking the gamble to buy it in the hope that it will. who do I contact, costs, time etc. I know I need to contact the council for the area.

Firstly, look at the Local Planning Authority's Local Plan. This will tell you whether the area you're looking in has been identified as one for development - or no development, or even limited development. That will give you a clue as to whether or not the LPA will be sympathetic to an application for planning permission (development).

Then ... book an appointment with the LPA to visit them and discuss your plans. They will tell you whether or not any application for development is likely to be successful.

You can do all this for no financial cost - just your time. But if you want to submit detailed plans for development, you'll either need builder's/architect's drawings (budget for £750 for full plans or £500 for outline planning permission) or draw them up yourself (not easy!).

If the LPA think you have a case, then you need to submit a formal application for either outline or full planning permission. In addition to the fees for the architect's drawings, you'll pay £150-£500 depending on the size of the development.

HTH

jooles5a

I have had a very long and very bad experience with a piece of land I bought 15 years ago which already had full planning permission granted. To cut War and Peace short, the property remains a fenced-off building site thanks to the conveyancing solicitor missing a vital covenant stating that only a garage or greenhouse can be built on it (the plans passed are for a residence and have nothing to do with what's on the deeds). My advice is to investigate everything fully - ask local builders if they can put you in touch with people who have taken on similar projects and give you the benefit of their advice in your local area.

Debt Free Chick's advice is good. The final architects costs will be a lot more if you want an NHB certificate - you will struggle to sell to someone who needs a mortgage without one.

The moral to my tale is get yourself a solicitor with experience of land conveyancing - it would seem that any money-grabbing, waste-of-space drop-out from law school can oversee an already built house conveyance but give them something a bit different and you can forget it. Admittedly things have changed since 1991 but not by that much. A good solicitor will set you back but it won't come to anywhere near the £45000 and counting I've forked out on legal fees and this doesn't include the purchase cost of the land and materials. :mad:

If you live anywhere near Todmorden I can recommend a good 'un who I would actually put my faith in.

Good Luck.

P.S. don't let my madness put you off - Barratts and Whimpy haven't !!