developer suggested land sale in parcels

JonSimons

I dont want to sell, but i know our lives going to be made difficult by the developer.

As mentioned he seemed more keen for land split as offered a bit more if did it that way, as when we had one meeting once he said about a piece of land he owns next to us, and even tho he owns it, it has land issues or ownership issues with the title number, and what he will do is amalgamate his bit of land into, the small piece of land he wants me to split, so it has a new number.
So basically his large piece of land is added to the small piece of land he wants me to split, rather than him adding the small piece into his large piece

Mojisola

JonSimons wrote: »

he said about a piece of land he owns next to us, and even tho he owns it, it has land issues or ownership issues with the title number, and what he will do is amalgamate his bit of land into, the small piece of land he wants me to split, so it has a new number.

He sounds a bit of a cowboy.

I'd take the advice eddddy gave you -

eddddy wrote: »

To be honest, you sound a bit out of your depth. You seem to be worrying about the wrong things.

A negotiation between "somebody who's a bit out of their depth" versus "a professional developer" isn't a good idea.

I would suggest that you get a professional land agent involved, who can look at the land, give you an idea of its development potential, and therefore it's value.

In due course, you'll probably need a specialist solicitor as well - as the developer might start talking about "a conditional contract subject to planning", "an option to purchase" etc.

sheramber

So he has worked out a way to advantage him.

Go and get professional advice.

JonSimons

Mojisola wrote: »

He sounds a bit of a cowboy.

I'd take the advice eddddy gave you -

He sounds like a cowboy i know, but a big well known firm, he said they have done it loads of times where they have amalgamated loads of of their land with issues into small parcels and that its legal and best way to solve the issues with the council etc.

If it was a indie dev id be more concerned but its a big firm

getmore4less

They don't need you to do the split they can do that bit themselves.

Have you looked at all the planning applications around you?

And as mentioned he said about taking a bit less and will give a house at cost

be careful of any deal where you don't get all your money up front unconditionally in one form(cash) or another(a finished house in your name).

Developer has financial problems you can loose anything that has not been paid.

Mojisola

JonSimons wrote: »

He sounds like a cowboy i know, but a big well known firm, he said they have done it loads of times where they have amalgamated loads of of their land with issues into small parcels and that its legal and best way to solve the issues with the council etc.

If it was a indie dev id be more concerned but its a big firm

So get professional advice to confirm the idea is legit and benefits you.

If you go ahead without taking advice, you'll have to accept any mess it gets you into.

eddddy

JonSimons wrote: »

He sounds like a cowboy i know, but a big well known firm, he said they have done it loads of times where they have amalgamated loads of of their land with issues into small parcels and that its legal and best way to solve the issues with the council etc.

If it was a indie dev id be more concerned but its a big firm

If it's a big well known firm, the person you're dealing with could well be a professional Land Acquisition Manager.

i.e. Somebody who's paid up to around £100k per year, to negotiate cheap land deals for his employer.

He won't be paid bonuses for giving people fair deals, he'll be paid bonuses for getting development land cheap.

So he might be very well practised at coming across as "a nice, trustworthy person", whilst driving a really hard bargain.

JonSimons

Hi All

thanks for all help recently.

Developer has made an offer but is subject to a deal.

said it be less money than i want, but the deal would be X value plus a house at cost,

Said they give me X amount and I give back 200k for a house, it be their top of line house they sell for 590k

Are deals like this nomal and perfectly fine for developers to do, like its not illegal is it

mrschaucer

To reiterate, you need a professional land agent on your side who you should be paying to get you the best deal possible. Plus your own solicitor.

JonSimons

wouldnt a land agent tho take a massive huge cut, or want less to get deal finalised.
Esp if im at a price im happy with, was just weather or not these are commonly known legal deals etc