Developers offer on my property

theartfullodger

Kinada66 said:

......

This is their 2nd offer, first was a 30k option over 10 years and 30% over market value. 

Then repeat, Thank them for their kind offer.  But note, not at that price.  

It's a game of poker.. 

Shebeepy

It's a no brainer for me. £100k up front, no strings. Then if the development goes ahead and there 'really' isn't any other option but for them to buy your house for access, then you get double what you'd ask for if you sold. Would you really want to live with a development going on next door? I'd be off like a shot. 

GDB2222

10 acres of farmland is worth say £100k. As building land, it’s worth say £15m.  There might well be room for an improved offer. 

billy2shots

Is the issue solely the fact that someone else stands to make a lot of money?

That's to the OP and others hinting to stand firm. 


Put it this way, if a random stranger knocked on your door and offered a gift of £100k in exchange for the opportunity to buy your house for double the market value. Would you accept?

I know exactly what I would do in that position. 

GDB2222

billy2shots said:

Is the issue solely the fact that someone else stands to make a lot of money?

That's to the OP and others hinting to stand firm. 


Put it this way, if a random stranger knocked on your door and offered a gift of £100k in exchange for the opportunity to buy your house for double the market value. Would you accept?

I know exactly what I would do in that position. 

Very good point, but if you think that you could persuade them to pay even more …

Shebeepy

GDB2222 said:

billy2shots said:

Is the issue solely the fact that someone else stands to make a lot of money?

That's to the OP and others hinting to stand firm. 


Put it this way, if a random stranger knocked on your door and offered a gift of £100k in exchange for the opportunity to buy your house for double the market value. Would you accept?

I know exactly what I would do in that position. 

Very good point, but if you think that you could persuade them to pay even more …

But then you also run the very real risk of them saying "f*%& it... we'll go with option B"... and you're stuck selling your house next door to a building site. Because I very much doubt this is their only option.

GDB2222

Shebeepy said:

GDB2222 said:

billy2shots said:

Is the issue solely the fact that someone else stands to make a lot of money?

That's to the OP and others hinting to stand firm. 


Put it this way, if a random stranger knocked on your door and offered a gift of £100k in exchange for the opportunity to buy your house for double the market value. Would you accept?

I know exactly what I would do in that position. 

Very good point, but if you think that you could persuade them to pay even more …

But then you also run the very real risk of them saying "f*%& it... we'll go with option B"... and you're stuck selling your house next door to a building site. Because I very much doubt this is their only option.

Indeed. Very good point. That’s why the op obviously needs professional advice. 

Section62

GDB2222 said:

Shebeepy said:

GDB2222 said:

billy2shots said:

Is the issue solely the fact that someone else stands to make a lot of money?

That's to the OP and others hinting to stand firm. 


Put it this way, if a random stranger knocked on your door and offered a gift of £100k in exchange for the opportunity to buy your house for double the market value. Would you accept?

I know exactly what I would do in that position. 

Very good point, but if you think that you could persuade them to pay even more …

But then you also run the very real risk of them saying "f*%& it... we'll go with option B"... and you're stuck selling your house next door to a building site. Because I very much doubt this is their only option.

Indeed. Very good point. That’s why the op obviously needs professional advice. 

Absolutely... a professional with all the facts (and possibly local knowledge) will have a much better understanding of other options that might be available and therefore the level of risk involved in a hardball negotiation.

atarisrocks

Could you accept the £100k and then rally people to get the planning permission denied for the next 5 years and then refuse to sell? 

Gavin83

theartfullodger said:

Kinada66 said:

......

This is their 2nd offer, first was a 30k option over 10 years and 30% over market value. 

Then repeat, Thank them for their kind offer.  But note, not at that price.  

It's a game of poker.. 

It is a game of poker but one that the OP could certainly lose.

How much do you think the OP should hold out for?

atarisrocks said:

Could you accept the £100k and then rally people to get the planning permission denied for the next 5 years and then refuse to sell? 

I expect the contract would include a clause that the OP can't object to the planning application. They're developers, they know what they're doing. I also expect there's zero chance the council wouldn't approve this.

Besides which it's extremely morally dubious. The developers haven't done anything wrong and they've made the OP an extremely reasonable offer. It's up to them if they accept or not.

However anyone who thinks they'll offer huge sums of money or they simply won't bother with the build is deluded. Despite what the OP says they'll definitely have other options and if it gets too challenging they'll just take the other option and the OP is left in a difficult situation. It's easy for others on this thread to tell you to hold out for loads more but it's not their life or money they're gambling with here.

As others have said seek professional advice.