Types of Deal Offered By Landbuyers/Developers

Cynic_2

Developers are after our gardens, or entire properties, so that they can build more homes and make their profits.

About four years ago we, and our neighbours, were approached by a land buying agent who said he had a client wishing to buy our land as a group of six adjacent properties. The deal which reached the draft sale contract stage was:

A very good price for each property

Money up front (full purchase price paid at exchange of contracts), making us cash buyers for replacement properties

Up to 12 months, rent free, to live in the properties, as previously, until we vacated at individual owner's convenience

That fell through and we were never able to get any comment from the developer, whom the buyer had claimed to be their client, as to the status (genuineness) of the deal.

Since then, we have tried to get a money up front deal from another developer via another land buyer. They claim that no such deal would ever be done by any developer.

Does anyone have any experience of such a deal, as a seller or as a buyer?

Doozergirl

Why don't you group together and get the planning permissions for the site yourselves. Then offer it for sale. That's the way to make most money

adr0ck

agreed

remember that most developers are now slowing down quite a lot...........so they won't be chasing you....you will be chasing them to sell

its a buyers market

Cynic_2

Doozergirl wrote: »

Why don't you group together and get the planning permissions for the site yourselves. Then offer it for sale. That's the way to make most money

Because the developers own the one second in on the block.

Anyway, they have spent over £150,000 so far on legal and professional fees and surveys. So if anyone out there is considering such a project..... Then there is the Schedule 106 payment (Google it) of some £110,000 they have to pay to the local authority (I think) within a month of plans being passed.

Doozergirl

They can't be that serious about your house then; if it involves that many houses to warrant a Section 106, I'd be buying up as many houses that would gain the PP as I could.

Get permission for a bungalow in your garden instead . The precedent will be set!

Cynic_2

Doozergirl wrote: »

They can't be that serious about your house then; if it involves that many houses to warrant a Section 106, I'd be buying up as many houses that would gain the PP as I could.

Get permission for a bungalow in your garden instead . The precedent will be set!

Not that we want to do it, but there would be no access to the bungalow and, therefore, no chance of planning permission.

They are negotiating with owners all along the street. There all all kinds of issues and we are on the case. There is a big plan, possibly including hundeds of houses behind these.

Cynic_2

Cynic wrote: »

Because the developers own the one second in on the block.

Anyway, they have spent over £150,000 so far on legal and professional fees and surveys.

They have recently indicated that they are considering outright purchase of our properties (no option agreement). No prices, time scale (we guess 12 months) or conditions have been suggested and it all depends on whether they can run the Environment Agency flood plain model and, by including adjacent properties, come up with a viable alternative scheme. We would get a uplift on previously agreed purchase prices.