Compulsory Purchase Orders...any help?

suki1001

mrswack wrote: »

TighterThanTwoCoatsOfPain wrote: »

You've been given factual answers from the first post, but it seems its not what you want to hear.

Not a single person suggested it was 'fair', and most people probably felt sorry for you until you started running your mouth at everyone - I'm suprised anyone has bothered to help you at all with your attitude to be honest.[/

Blah blah blah..another useless big nosed plonker!

mrswack, I read this forum with an open mind. I think sometimes it is very easy to take things personally on this forum and take offence when you don't feel you are getting the right advice. You will receive opinions and advice on this forum. It is more of a discussion forum than advice, although you will get some good advice. I don't think anyone was trying to wind you up and they were trying to help, but I can see that when something is very personal to you. Please remember this isn't the CAB, just people trying to help and sometimes they may add their 2p worth and it may not seem much use to you, but it is meant in the best way.

JQ.

mrswack wrote: »

Would you think getting valuations now might be useful? I know it's been in the local papers but I'm thinking some EA's may value as normal as it's all recent?

It's very very difficult to accurately place a value on a property affected by Blight and in all honesty EA's are not qualified to provide such advice. You would need to pay a Chartered Surveyor to do it. The only reason for doing it would be if you wanted prove Blight and force the Acquiring Authority to buy the house off you before they get the CPO powers, which it sounds would not be what you want, as they would only pay you Market Value plus costs. It could end up being an issue if you needed to re-mortgage.

There's not an awful lot you can do at present, but ultimately if they do get CPO powers you will only get Market Value plus costs. Why not get involved in some local action groups, and if there aren't any, start one!

DevilsAdvocate1

I don't know the full details and I am no longer in touch with a friend whose house was bought under a CPO. She said that the initial offer was very, very low - much lower than they had bought the house at 3 years previously. This would be 7 or 8 years ago, so during a time of price rises.

I think you would be very wise to get 3 or 4 valuations done now. Have it all written down so that you have something to refer to. If houses have sold in your street over the last couple of years, again I would print off the information. Basically, get as much evidence as possible of the house valuation now.

I know that my friend held off from accepting and did get more. Two houses in her street held off for much longer and I understand they got the best rate. A lot of people will just take the first offer. It can take many years to all be settled.

As someone else mentioned, perhaps start an action group and investigate any reasons why this proposal should not go ahead. Are there any small villages which would see an increase in traffic? This might delay things at the very least.

Good luck.

mrswack

Thanks guys, very much appreciated.

Now, that action group...although a great idea, the allocation of a new junction is called for hugely by all in our area, businesses and individuals alike (bar us 13 houses!). Even I can see the advantages myself so the chances of us getting together a group when they already have 2000+ sign the petition for the go ahead and have any effect seems unlikely.

I'm thinking if we all stick together we may (or may not) get a better deal, I'll canvas the neighbours and make sure we all sing from the same hymn sheet!

mrswack

Suki...I know what you're saying. Thanks :-)

JQ.

DevilsAdvocate1 wrote: »

I think you would be very wise to get 3 or 4 valuations done now. Have it all written down so that you have something to refer to. If houses have sold in your street over the last couple of years, again I would print off the information. Basically, get as much evidence as possible of the house valuation now.

I'm afraid that's all pretty pointless. Estate Agents are not qualified to value houses, whether they are for a house affected by CPO or not and getting their opinion will just be a waste of everyone's time and achieve very little. As already stated in this thread, if the CPO does progress then the acquiring authority will pay for an Expert (a chartered surveyor) to act on behalf of the OP. They will value the house and negotiate the claim on behalf of the OP and will be experts in doing so.

OP might be worth speaking to the RICS and getting the names of some local Chartered Surveyors in your area who are experts in CPO procedure. I have no doubt they would be happy to talk you through the process and advise what can be done now.

stokesley

DevilsAdvocate1 wrote: »

As someone else mentioned, perhaps start an action group and investigate any reasons why this proposal should not go ahead. Are there any small villages which would see an increase in traffic? This might delay things at the very least.

Possibly not a good idea - surely the longer the area is blighted, the greater the chance that the OP or some of her neighbours might need to move for other reasons, finding themselves with virtually unsaleable properties and nothing whatsoever forthcoming from the taxpayer.

OP - whilst I sympathise with your position, there are many people in this country just far enough away from similar developments to not qualify for compulsory purchase, but near enough to see a huge reduction in their property price with no hope of any compensation whatsover.

All the best!

JQ.

mrswack wrote: »

I'm thinking if we all stick together we may (or may not) get a better deal, I'll canvas the neighbours and make sure we all sing from the same hymn sheet!

I would be very careful with that. You are not engaged in a commercial negotiation, there are rules and regulations to adhere to, and all clubbing together will not necessarily get you the best result. You need to only be acting in your own best interest not that of your neighbours.

If they get CPO powers you will get what you're entitled to and that's it. Ganging up will make no difference.

If they try to get people to sell before they get the powers then you want everyone else to agree to sell and you be the only awkward sod not to agree - that gives you a far greater negotiating position than if you'd all joined forces.

mrswack

JQ. wrote: »

I would be very careful with that. You are not engaged in a commercial negotiation, there are rules and regulations to adhere to, and all clubbing together will not necessarily get you the best result. You need to only be acting in your own best interest not that of your neighbours.

If they get CPO powers you will get what you're entitled to and that's it. Ganging up will make no difference.

If they try to get people to sell before they get the powers then you want everyone else to agree to sell and you be the only awkward sod not to agree - that gives you a far greater negotiating position than if you'd all joined forces.

I see, gutted.

oursurveysays

Well I did come onto this forum to get some mortgage advice etc but I'll add my tuppance worth to this thread.

I am a Chartered Surveyor for a national property firm who has acted for clients who have had land and buildings acquired by acquiring authorities - although mostly commercial.

Firstly has this CPO been confirmed or simply newspaper heresay? If and when a CPO is confirmed the acquiring authority (AA) intends to purchase landholdings. This should not be a shock to the owner as the AA must have published a notice of the making of the order in one or more local newspapers for two successive weeks requesting objections on grounds of the authority for them to acquire (for example which act or parliament have they cited as grounds to acquire). If objections are to do with the nature of the development this will be disregarded as it is planning issue, it is merely objections against the legal right of the AA to enter. Objections at this level is more of a legal avenue and a property solicitor is the best point of contact.

Once the CPO is confirmed typically you will receive a document from the AA (either a general vesting document or most commonly a notice to treat). This will give you the date for which the AA will take your property and also the date at which your property will be valued.

In terms of what you are entitled to, it is wrong to say that it is just the value of the property plus moving fees etc, although that is part of it. For residential properties you are entitled to the value of your property as at the valuation date, a bitter pill for those having property acquired in a downturn. On top of this you are entitled to 2.5% on top of that value as occupiers loss, 7.5% on top of that value as a basic loss payment and 10% home loss payment (loss payments subject to minimum and maximum) - all that plus disturbance costs and fees which include everything from changing your phoneline, to removal and installation of fixtures and fittings from old house to new, to legal and surveyors fees etc etc.

As a basic rule of thumb:

Property Value: £100,000
Occupiers Loss Payment: £2,500
Home Loss Payment: £10,000

Plus disturbance and fees

Based on the above you would get £112,500 for a property worth £100,000 so unless you have an really unrealistic idea of your properties value or paid a rediculous sum for it you should be OK.

The are a boat load of other ifs and buts that I have not mentioned. CPO is not something you can adequately describe in a short post but remember you are entitled to cost of surveyors fees. If I were you I would contact the acquiring authority to confirm your property is to be purchased and get some quotes from qualified chartered surveyors (not estate agents) who deal with this type of work. Go with you feel most comfortable and get the AA to confirm to pay its wages - so no comeback on you. The AA will typically want to see quotes from 2 or 3 surveyors and if reasonable they will agree to cover the costs - make sure the surveyor doesn't put any small print about chasing you for fees mind.