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Would this work??

  • 16-09-2009 5:43pm
    #1
    Cazbob
    Closed Accounts Posts: 3 ✭


    Hi All



    If I own a town property, too the value of 200,00 and was looking too move to the country, and I happen to come across a builder who would buy my property, and in return I would buy a site from the builder and get him to build a house on the site. So what do you think would this work???

    Thanks !!


Comments

  • #2
    DublinDilbert
    Registered Users, Registered Users 2 Posts: 5,401 ✭✭✭DublinDilbert


    Cazbob wrote: »
    Hi All



    If I own a town property, too the value of 200,00 and was looking too move to the country, and I happen to come across a builder who would buy my property, and in return I would buy a site from the builder and get him to build a house on the site. So what do you think would this work???

    Thanks !!

    In theory yes, but there might be some issues in practice.

    Its hard to see how much profit would be there for the builder, after all the legal costs etc. He would need to have the site already, or get it very cheap. Also he will want to build the house as cheap as possile to maximise his return, which you might have issues with.

    I believe this practice was quite common a few years back, but typically on properties that were much more expensive, or comercial properties. They also changed the law in one of the recent budjets that these type of transactions are subject to stamp duty (which they weren't before as no money was changing hands)


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