Compulsory Purchase Orders...any help?

mrswack

dodger1 wrote: »

It's betterment not in the property but in the location. Your present property is valued £150,000 because of it's poor location (next to a motorway), you need to find a similar property again next to a motorway and the price should then be the same.

Not sure where you got the valuation but you're way off. Ok, let me scour up and down the country for similar, never mind the family I live by, our work or our childrens school and friends...

ruggedtoast

mrswack wrote: »

Aspirational home? What? i just want my home! If I can't have my home I'd like similar, you are basically saying I have to scour up and down the motorways to find similar at a same price? Otherwise tough I have to downsize and lose out? Doesn't seem right to me.

Think of it not as losing a motorway, but gaining a B road.

mrswack

ruggedtoast wrote: »

Think of it not as losing a motorway, but gaining a B road.

I quite like the B road that runs outside my house

dodger1

mrswack wrote: »

Not sure where you got the valuation but you're way off. Ok, let me scour up and down the country for similar, never mind the family I live by, our work or our childrens school and friends...

The £150,000 was your valuation. You stated that similar properties would cost £150,000 more, if they are similar properties in a similar location the price will be similar. If they are in a better location they obviously are worth more so that would be betterment.

I do appreciate the wrench in being forced to leave your home, I actually think that compulsory purchase orders should have some extra valuation based on years at the property for emotional pain but unfortunately that doesn't happen.

ILW

You could hold out and end up like that place on the M62, where the two carraigeways part by a few hundred feet for around a mile and there is a farmhouse in the middle.

pinkshoes

mrswack wrote: »

How is it betterment when to purchase a SIMILAR house would cost around 150k more? We would be losing out with just market value as we would have to reduce house and land size and why is it we should lose out? Surely that isn't allowed either?

We've worked damn hard to get here we are and want to know we won't be shafted.

You need to think financials rather than size!

If you want a SIMILAR house of the same size, then I'm sure there are LOTS of parts of the UK where you can buy a similar house for the same price.

Your house is low value due to its location, which is no doubt why you bought next to a motorway. You now have the option to move somewhere else, so would need to live in another obscure location to get a similar property.

mrswack

dodger1 wrote: »

The £150,000 was your valuation. You stated that similar properties would cost £150,000 more, if they are similar properties in a similar location the price will be similar. If they are in a better location they obviously are worth more so that would be betterment.

I do appreciate the wrench in being forced to leave your home, I actually think that compulsory purchase orders should have some extra valuation based on years at the property for emotional pain but unfortunately that doesn't happen.

I think you need to go back back through and read properly, I said a similar property would cost 150k MORE...ie..on top of what my house is already worth.

Thanks for the comment, although I don't want to be compensated for emotional pain, we were flooded in 2007 and the property was gutted, we now have pretty much the house we've always wanted and I don't wan to lose it, or by the sounds of it end up with less :-(

mrswack

pinkshoes wrote: »

You need to think financials rather than size!

If you want a SIMILAR house of the same size, then I'm sure there are LOTS of parts of the UK where you can buy a similar house for the same price.

Your house is low value due to its location, which is no doubt why you bought next to a motorway. You now have the option to move somewhere else, so would need to live in another obscure location to get a similar property.

Think financial rather than size??? Maybe you should know more of my situation before putting in your pennies worth..Of course I want size, I have 3 kids and one on the way! We also have a life here believe it or not so why should I have to move away to get what we already have?? Move schools, jobs etc? Would you? I doubt it.

Since everyone seems to skimming or misreading the 150k quote...my house is not low value...unless you class 480k as low value?

Brock_and_Roll

Obviously the whole point of CPOs is that they allow "important" national developments for the greater good to take place reasonably swiftly by ensuring that the odd objector cannot hold up the entire process. As I understand it the property owner gets the "market value" + costs.

However, one aspect I am a little unclear on is what constitutes "market value" - is this the market value before or after the announcement of the development plans? I know of some properties near me which suffer from "planning blight" - they lie on the path of a potential bypass that has been discussed on and off since WW2 !!!

For the OP, if her house is worth £480k then £480k will be what is in the pot to buy a new place. If local prices (away from the motorway) are high, then she may not be able to get a "life-for-like" and will have to downsize or move somewhere where £480k will buy something similar to what she had. Personally I think it is a bit harsh that someone is not compensation for the upset/hassle etc of having to move (and potentially from the area), but the rules are the rules.

lincroft1710

If the market value of your house would be £480K given its current position but ignoring the detrimental effect on value any future works would have, then that is what you will get as payment. This is in accordance with CPO legislation.

The legislation is so drafted that you should not lose out financially. However in the case of individual and especially rural properties, it probably will not enable you to "replace" your previous home. Although this may seem unreasonable and unfair, this is how the system works. If your house is worth £480K and it would cost £630K to buy a property as near the same size and type, you will still only get the £480K.