Buying Land

c-dog

Hi, not sure if this is the right forum so mods feel free to move if neccesary:D
Basically I moved into a new house about a year ago and the site is unfinished, there was supposed to be 6 houses built beside us but builders didnt start them at all cos of the recession and people not getting finance. The builders have now gone bust and all the land beside me is unfinished with no sign of anythin happening in the near future. Basically I was thinkin of tryin to buy a piece of the land beside my house just to extend my garden not to build or extend house and as builders are gone bust what would be the best way to go about this. I mean there was supposed to be houses built in this area but with the builders gone this will no longer happen, so who would I approach to enquire or would this be a thing I could do. I would only want 20x150foot to the side of my house so not a huge amount but would just give me more garden space!

Victor

Find out who the liquidator to the developer is.

c-dog

thanks for reply victor, would this be easy to obtain and would this be a common thing to happen I mean would they be in a position to sell the land to me? Also would you have any idea of what price the land would cost like is there a standard cost for buying land or do we haggle with the liquidators(sorry if questions seems clueless but I am haha:))

Victor

The liquidator would likely look for the same price he would get if it were to be used to build houses. You (or your representative) will offer a "garden" price not much above the cost of agricultural land. I imagine a balance could be found somewhere in between.

Be wary of the cost of any boundaries or other work that is needed.

TheDuderino

C-Dog,
how did this all pan out? Basically Im thinking of doing the exact same thing - in leitrim.

Who, what, how?? Do you get a solicitor to hand the transfer etc or...?

Im truly clueless when it comes to stuff like this

Victor

You decide what you can pay by talking to the banks.

You then decide what you want and tell the seller.

Only solicitors can do property transactions in theis country.

jetski

Did this myself last year...

just approach whos responsible for the land you want and agree a price.

Their solicitor sends your solictor a land registry compliant map and you give it the ok. then eventually you get the land registry updated in your name.

my advise would be to shop around for the solictor and agree a price before you take on the work factor in VAT @ 21% on top of that price btw

Good luck

TheDuderino

Thank you all for replying with info on this. Much appreciated!

The plot Im looking at is a massive 3000sq ft plot .
Not likely to be agricultural ever again (shape and lack of decent topsoil), not large enough or supported (excavated 15ft drop on one side) to be built upon.
In County Leitrim.

If you had to guess, what price am I looking at for the land. I see 3 acres for sale in Manorhamilton (same town) for 14k. Rounding up.. thats 5k an acrea. Rounding up again, that €350 for 3000sq ft....

Somehow Im not that naive Id get it that cheap...

Ideas?
I dont want to offer too much and get ripped off, too little and be laughed at.

jetski

wont be worth his while selling it for anywhere near that.... the hastle their side have to go tru to complete the deal and also their solictor costs. id say about 2k + pay for their side so your looking at 3k ish

TheDuderino

Thanks for that Jetski... yeah I figured the price would be a multiple of 350....

Just wondering how much pressure a receiver/liquidator/whatever they are, are under.
Would they be glad of any minimal profit/income...

But yes, as you say, its got to be worth their while.

I'll see what they come back with and start counting my coppers.

Even at 3k'ish it would add a multiple of that to the value of the house. I recon.

jetski

maybe the will want a bit more.... i dont know

Let us know how u get on.... just pick up the phone and ring them