he will apply for the planning permission and take it from there
i'm not sure what way to go about it should i get him to give me a detailed list of the cost of each stage or let him come up with a final figure and pay that when the house is done
Is 290 - 300 k realistic
Yea we said from the beginning we would get a solicitor to draw up an agreement.
The plan is for him to apply for planning in his name and take the project fully on himself. I would leave a deposit with the solicitor to show my commitment. He will finance it himself and when its ready i purchase the property of him for the agreed sum. he says if i'm not interested in the site he would be building to sell anyway, this way i get a house built and he sells to a local person.
I'm looking at it that if i let this site go i will end up paying an extra 20k for a smaller site which wouldn't be in as good a location and would probaly need lots of ground work, this one is totally flat and in an ideal area
Regarding stamp duty i think first time buyers only pay duty after 317k on the property so i shouldn't need to pay any, i'm not so sure what way it works when inheriting land as he has done
Be aware that if he gets planning permission in his name, the council may also insert an occupany clause preventing him from selling the house for 5 or 7 years. Even selling to another local may not be enough for them to revoke it.
Check if these clauses are common in your area.
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