Author Topic: Last minute Covenant grrrrrrrrrrr (Read 21042 times)

Dangermouse · « **Reply #75 on:** February 24, 2010, 06:21:29 am »

Quote from: Jackie on February 23, 2010, 07:33:57 pm

As a hard headed property developer (now Ive retired from nursing) I would suggest you get this covenant removed as you never know what will happen in the future and 21 years is a bl**dy long time!

If theyve already backed, down push it more and ask for it to be removed. Full stop!

The pig and poultry covenant was put on buy the people who sold the land to the people Im buying from (if that makes sence?)

So its going to be very hard to get that one removed, the covenant regarding the profit from development was put on by the people Im buying off and that one has been removed.

The neighbouring property also has some class 3 agricultural land adjoining mine and they have just had the planning permission to change the land to residential (with no problems at all)

So Im thinking if I had the money I could probably build a house on the land if I really wanted to?

Pity I just cant afford to.......

doganjo · « **Reply #76 on:** February 24, 2010, 12:23:51 pm »

But if you could you'd double your money when you sold it! I did. Built for £150K sold for £310K less than 2 years later

Dangermouse · « **Reply #77 on:** February 24, 2010, 12:36:49 pm »

Quote from: doganjo on February 24, 2010, 12:23:51 pm

But if you could you'd double your money when you sold it! I did. Built for £150K sold for £310K less than 2 years later

Nice one, now thats the way to do it

Well Done

Wizard · « **Reply #78 on:** February 24, 2010, 01:59:47 pm »

DM.Said Mr Punch

Jackie · « **Reply #79 on:** February 24, 2010, 07:36:10 pm »

Dangermouse it cost very little to get either outlined planning permision or detailed planning permision so you sell the land with that.

Planning permision is valid for 5 years.

You make a profit the new owners get the expense of building.

Oh and get the plans for a four bed house they sell better with land. (Goes with the horses I supose lol)

Or you trace the previous owners and get them to remove the covenant (they are more likely to do this as you are 1 owner further on and do it soon or they could die then you are stuck!) then register the land as a smallholding and sell along with the house plans and you have a profit I would envy!

Dangermouse · « **Reply #80 on:** February 24, 2010, 08:10:52 pm »

Quote from: Jackie on February 24, 2010, 07:36:10 pm

Dangermouse it cost very little to get either outlined planning permision or detailed planning permision so you sell the land with that.
Planning permision is valid for 5 years.

You make a profit the new owners get the expense of building.

Oh and get the plans for a four bed house they sell better with land. (Goes with the horses I supose lol)

Or you trace the previous owners and get them to remove the covenant (they are more likely to do this as you are 1 owner further on and do it soon or they could die then you are stuck!) then register the land as a smallholding and sell along with the house plans and you have a profit I would envy!

I guess thats worth looking into, its took me so long to find some though I wont want to sel it

doganjo · « **Reply #81 on:** February 24, 2010, 08:23:30 pm »

Quote

I guess thats worth looking into, its took me so long to find some though I wont want to sel it

But you never know what may change

I never expected to be living in Central Scotland. I'd never lived out of Aberdeenshire since I was born. Twice widowed due to accidents and here I am, nearer my kids and grandkids, and with LOADS of new friends - but a lot less land. Most of that profit I made had to be put back into buying a house down here as it's more expensive. So don't clsoe your mind to adding value to your land and moving to something else - maybe even bigger, maybe just better - who knows?

Jackie · « **Reply #82 on:** February 24, 2010, 09:04:30 pm »

Ok dangermouse you have 5 years from the date of the planning permission being granted and to hold it for longer after that you have to dig a trench (pretend footings) so it looks like you have started to build and that will hold it until you are ready to sell.

How would you like say 5 times what you paid for the land? Would that get you something really, really good elsewhere?

Thats the sort of cash you would be looking at.