Putting site up for sale

Hi,

I am considering putting a field up for sale without any plannng permission saying it has development potential. Is there any requirement to get a solicitor involved prior to putting the ad on the web or can I just post the ad and see what the response is?

Lastbuilders

many sites/fields are sold subject to planning permission. this is were someone buys the land subject to them getting planning permission within an agreed time frame. you could also just sell the land as it is but you wouldnt get as much for it. you can advertise the land without having a solicitor but you will have to engage one at some stage, both to handle your own affairs but also the potential purchaser would more than likley insist that you have a solicitor. you should ring around some local solicitors to get a quote for their fees involved. it will usually be a percentage of the sale price. you will also have to prepare a capital gains tax return done on the sale of the land.

one thing to consider here is to apply for planning permission on the land yourself, build nad move to it and sell your home house if you have one. the benefit of this is that your home house will more than likley qualify for principal private residance relief and no tax shoould be paid on the sale.

drop me a line if you would like as a little planning at this stage could potentially save you a lot of money in the future.

lastbuilders said:

Hi,

I am considering putting a field up for sale without any plannng permission saying it has development potential. Is there any requirement to get a solicitor involved prior to putting the ad on the web or can I just post the ad and see what the response is?

Lastbuilders

Click to expand...

I wouldn't bother with a solicitor at this stage although you will need one when you actually get down to the act of transferring ownership of all or part of the field.

If its the entire field just verbally agree a price with the potential purchaser and then sit back and wait for him to get planning permission (hopefully).

If you end up agreeing to sell off individual sites to different people then make a verbal agreement but be careful with the mapping/layout of sites. You will need to check the individual site maps to ensure that the respective sites dont overlap. You also need to ensure that you are not left with a chunk of ground to the rear of the sites that would be of no use to you. Most people will want road frontage.

All this is dependant on the physical shape of the field and the location of it in relation to the Development Plan for that area.