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Selling land - minimum fee

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  • HampshireH
    HampshireH Posts: 4,480 Forumite
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    Uplift would mean that you get % should Planning Permission be permitted and therefore an increase in land value seems 25% is quite common. Worth a google
  • montymouse
    montymouse Posts: 71 Forumite
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    Davesnave wrote: »
    That would depend on your council's policies on such matters. They will realise it's likely the house will be inhabited by persons with vehicles, so if these cannot be parked on the property, they'll add to any parking difficulties which may already exist nearby.

    Building the property would also present problems without vehicular access. Small diggers need very remarkably little access space, but a place for skips and unloading/storing materials would be essential.

    I think that the people who potentially want to get PP for the plot are the people that own adjacent land with vehicular access, so if they acquired it, they would have vehicular access to the land and space for skips and so on.
  • montymouse
    montymouse Posts: 71 Forumite
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    AdrianC wrote: »
    Oooh, wild stab in the dark... A %age, but with a floor.


    So let's say they say 1.5%, but with a £1,200 floor. Anything under £80k sale price will be the minimum £1,200. Anything over that will be 1.5%.

    Sorry, my bad, I think the estate agent quote of £1,200 is the flat fee for the job of selling it. There is no percentage. For the house it's 1% + VAT. When I asked why it was a different pricing system for the land, he explained that it was a minimum fee.
  • montymouse
    montymouse Posts: 71 Forumite
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    HampshireH wrote: »
    Uplift would mean that you get % should Planning Permission be permitted and therefore an increase in land value seems 25% is quite common. Worth a google

    Yes, that's something to think about.
  • davemorton
    davemorton Posts: 29,066 Forumite
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    If you go the self route with leaflets, also put a couple of large signs on the land.
    “Quis custodiet ipsos custodes?”
    Juvenal, The Sixteen Satires
  • montymouse
    montymouse Posts: 71 Forumite
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    davemorton wrote: »
    If you go the self route with leaflets, also put a couple of large signs on the land.

    Yes, we would definitely do that.

    The point does highlight the utility of an estate agent, as, obviously, they would take care of that.
  • eddddy
    eddddy Posts: 16,449 Forumite
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    montymouse wrote: »
    The land is a potential building plot. It is landlocked for vehicular access, (there is pedestrian access via a right of way), but at least two potential buyers would have vehicular access via their own properties.

    I would approach this very differently.

    If there are two properties which could provide access to your plot, I would aim to do a 'joint venture' with one of them.

    i.e. You sell it as a plot with access, and split the money between yourself and the person providing the access (in whatever percentages you agree).

    As there are two possible properties, you're in a stronger position. You go with whichever property owner that accepts a lower percentage pf the sale price.
  • montymouse
    montymouse Posts: 71 Forumite
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    eddddy wrote: »
    I would approach this very differently.

    If there are two properties which could provide access to your plot, I would aim to do a 'joint venture' with one of them.

    i.e. You sell it as a plot with access, and split the money between yourself and the person providing the access (in whatever percentages you agree).

    As there are two possible properties, you're in a stronger position. You go with whichever property owner that accepts a lower percentage pf the sale price.

    Thanks, eddddy. So is this the same as getting one of the two to offer vehicular access, getting this written into the title deeds, and then selling, giving them a cut of the proceeds?

    However, I think the potential buyers will be wanting to buy it to extend their own property, so would this be pertinent?
  • eddddy
    eddddy Posts: 16,449 Forumite
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    montymouse wrote: »
    Thanks, eddddy. So is this the same as getting one of the two to offer vehicular access, getting this written into the title deeds, and then selling, giving them a cut of the proceeds?

    Yes - they can either sell a right of way across their land, or sell a strip of their land which would provide access.
    montymouse wrote: »
    However, I think the potential buyers will be wanting to buy it to extend their own property, so would this be pertinent?

    OK - so back to your original question. If there are only 2 or 3 neighbours/potential buyers, I don't really see why you need an estate agent. Just approach those 2 or 3 neighbours and invite them to make offers.
  • montymouse
    montymouse Posts: 71 Forumite
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    eddddy wrote: »
    OK - so back to your original question. If there are only 2 or 3 neighbours/potential buyers, I don't really see why you need an estate agent. Just approach those 2 or 3 neighbours and invite them to make offers.

    Thanks, eddddy, that may be the way to do it. Only trouble is, not all potential buyers are local, some of the neighbours are overseas, but follow Rightmove. The reason for going to an estate agent would be to make it publicly known that the land is for sale. However, the expense may not make it worth it. We could also consider online estate agents, but the advantage with a local estate agent is that they know the area and some of the people concerned.
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