Site with full planning

bensboys

Hi all,

We are looking at purchasing a site in Cork which has full planning permission for a very large house, however we would prefer a smaller house.

If we decide to purchase this site is it subject to getting the planning on the exact design we prefer and do so in the sellers name or do we buy the site with existing planning and assume that we will get planning on the basis that it is a smaller house?

Also, I spoke to the bank today and although we have a significant amount in savings and plenty of equity in our home they will not lend us any money to purchase the site unless our house is sold. is this normal?

Thanks

Gumbo

bensboys wrote: »

Hi all,

We are looking at purchasing a site in Cork which has full planning permission for a very large house, however we would prefer a smaller house.

If we decide to purchase this site is it subject to getting the planning on the exact design we prefer and do so in the sellers name or do we buy the site with existing planning and assume that we will get planning on the basis that it is a smaller house?

Also, I spoke to the bank today and although we have a significant amount in savings and plenty of equity in our home they will not lend us any money to purchase the site unless our house is sold. is this normal?

Thanks

The site has planning. So you buy and then alter the planning in your name.
No seller in their right mind will allow you to apply for planning and then wait the 3 months for the sale to go through.

The bank will do what they feel best to protect their investment so I guess you have to play by their rules or try another bank.

Best of luck if you go through with it.

db

bensboys wrote: »

Hi all,

We are looking at purchasing a site in Cork which has full planning permission for a very large house, however we would prefer a smaller house.

If we decide to purchase this site is it subject to getting the planning on the exact design we prefer and do so in the sellers name or do we buy the site with existing planning and assume that we will get planning on the basis that it is a smaller house?

Also, I spoke to the bank today and although we have a significant amount in savings and plenty of equity in our home they will not lend us any money to purchase the site unless our house is sold. is this normal?

Thanks

You could either buy the site for cash or pay off the mortgage on your existing house. The equity means very little until you have the money in your hand and the bank know how much of a deposit you have for the house you are going to build.

messrs

bensboys wrote: »

Hi all,

We are looking at purchasing a site in Cork which has full planning permission for a very large house, however we would prefer a smaller house.

If we decide to purchase this site is it subject to getting the planning on the exact design we prefer and do so in the sellers name or do we buy the site with existing planning and assume that we will get planning on the basis that it is a smaller house?

Also, I spoke to the bank today and although we have a significant amount in savings and plenty of equity in our home they will not lend us any money to purchase the site unless our house is sold. is this normal?

Thanks

I'm in the process of possibly buying a site with planning permission for a specific design on it, I've been advised that while I can alter the interior the exterior must look the same as it does on the current plans

bensboys

Hi all,

Thanks for the advice, spoke to my solicitor and he said to ask the seller to apply for planning in the design we want and cover all costs. If the seller doesn't agree to this get a design drawn up by the architect and meet with the planner for the area who should be able to give us a good expectation of likelihood of approval.


I think our next step is to have a serious conversation with the seller.

mickdw

I think the options are straight forward.
You buy as is and worry about the planning later. This wouldn't be advisable if planning was nearing deadline or if the site is in a rural area where planning will depend on whether you are classified as having a local need.
In those cases, you should look at signing a contract subject to planning - the planning you require and in your own name.
You would have to employ the planning agent and go through that process

bensboys

mickdw wrote: »

I think the options are straight forward.
You buy as is and worry about the planning later. This wouldn't be advisable if planning was nearing deadline or if the site is in a rural area where planning will depend on whether you are classified as having a local need.
In those cases, you should look at signing a contract subject to planning - the planning you require and in your own name.
You would have to employ the planning agent and go through that process

The site is located in cork in a "development" area. Excuse my ignorance but what is a planning agent?

Planning was originally approved in 2008 and reapplied in 2013

mickdw

bensboys wrote: »

The site is located in cork in a "development" area. Excuse my ignorance but what is a planning agent?

Planning was originally approved in 2008 and reapplied in 2013

I meant the person who you get to do your design and Planning application - Architect , Engineer etc.
If you mean it was extended in 2013 for a further 5 years, alot could have changed in development plan for the area since original application and as such I wouldnt assume anything re planning going forward.
If land owner will agree to selling subject to your planning being obtained, its a no brainer to go that route.
If site is in demand and your really really really want it and seller won't wait for another planning application to go through, speak to planning authority and your engineer or architect about the planning situation there then make an informed decision to either plough on or walk away.