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Plans to build a road through my parents house..

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    #2
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    who said you get "market rate" ? I dont know about these situations but Id be pretty sure theypay significant compensations well above market rate.

    i also dont understand your point about them having to accept a smaller house on a smaller plot as they wont be able to buy a same size plot. if their 1.4 acre is worth 3 grand then another 1.4 acre will be worth 3 grand. theres not that much of a fluctuation in land values so your problem makes no sense.

    its also cheaper to build in general than house values so again your point in moot.

    i think your worrying about nothing for lots of reasons to be fair


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    #3
    Eglinton
    Closed Accounts Posts: 992 ✭✭✭Eglinton


    The basic info:

    http://www.citizensinformation.ie/categories/housing/losing-your-home/compulsory_purchase_and_compensation

    The slightly more detailed:

    http://www.nra.ie/Publications/DownloadableDocumentation/GeneralPublications/file,3505,en.PDF

    and the legal:
    http://www.irishstatutebook.ie/1966/en/act/pub/0021/sec0078.html

    Hope this helps a bit. In short, a person cannot be left worse off after after a CPO has been enacted.

    I'd say consult a solicitor experienced in the field.


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    #4
    Icarian
    Registered Users Posts: 256 ✭✭Icarian


    thanks for the information guys.

    looking at citizens information

    # You should be paid compensation based on the market value of your property.
    # You should be left in the same financial position after the CPO as you were before the process.

    the issue is that the property value has decreased in recent years, whereas land values have not. while the compensation might cover the cost of the house, it is unlikely to be enough to cover the cost of a site of equal size to our current one in the area.


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    #5
    Tails142
    Registered Users Posts: 2,104 ✭✭✭Tails142


    Having experience in the CPO process you should be one of the happiest people in the world, this is pretty much like winning the lottery.

    Of course I understand the house probably has sentimental value but you will get well over market value for it, the compensation will be very large.


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    #6
    Victor
    Registered Users Posts: 78,266 ✭✭✭✭Victor


    I imagine the route along the existing bypass has certain advantages (one carriageway already built), but with other disadvantages (more expensive land and more demolition). As to which side of the bypass they build, I'd say its 50-50.
    Icarian wrote: »
    the issue is that the property value has decreased in recent years, whereas land values have not. while the compensation might cover the cost of the house, it is unlikely to be enough to cover the cost of a site of equal size to our current one in the area.
    Land values have dropped by 50-95%.

    Also have a look at http://www.scs.ie/digital_publications/get_lob?id=25&field=publication (PDF download)


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    #7
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    Icarian wrote: »
    thanks for the information guys.

    looking at citizens information

    # You should be paid compensation based on the market value of your property.
    # You should be left in the same financial position after the CPO as you were before the process.

    the issue is that the property value has decreased in recent years, whereas land values have not. while the compensation might cover the cost of the house, it is unlikely to be enough to cover the cost of a site of equal size to our current one in the area.

    land values are through the floor in recent years and even if they werent your 1/4 acre is no cheaper than another 1/4 acre down the road,

    think about it ....


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    #8
    Icarian
    Registered Users Posts: 256 ✭✭Icarian


    yeah, I hear what you guys are saying about land prices, we're just looking specifically at sites in the area, theres some land a little closer to town, but it's valued 4 times higher than our land, whereas theres not much available out a far as us, or further even....


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    #9
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    Icarian wrote: »
    yeah, I hear what you guys are saying about land prices, we're just looking specifically at sites in the area, theres some land a little closer to town, but it's valued 4 times higher than our land, whereas theres not much available out a far as us, or further even....

    well i can tell you now for a fact that that land is overpriced or your land is undervalued or both

    location has some bearing on price but 4 times the value is farsical and not a true reflection.


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    #10
    HouseMartins
    Closed Accounts Posts: 12 ✭HouseMartins


    We have just been told of proposed route H for the NEW N11/N25 Oilgate to Rosslare road..... This route goes through our house, our neighbours and their neighbours...... We have had our house on the market to sell for a year now, as we want to move abroad... We have no time constraints, so we were happy to sit out the recession in order to at least get what we originally paid for the house!!! We attended a meeting in Glynn last nite 2 b told that the council have no say other than enviromental, and the final say comes from the NRA and Europe!!! Money is coming from Europe and 80 - 90% is already in place!! How can they say money is in place when they reckon a route has not been chosen!! So Jan 2011 we will b told, and then up2 3yrs after that for CPO's to sent out!! Gr8 just when we're told the recession is nearly over, we get a new road and not a chance of selling house unless they CPO us!!! :(
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