Land Purchase - advice needed

nicksnikita

I’ve been offered a field adjoining our farm for a price of €20k.

Hoping to purchase but need advice on what additional fees will be payable over and above the purchase price.

Note: I’m a young farmer with Greencert completed earlier this year.

Thanks

Silverdream

Mainly Solicitors fees for land Conveyancing only. Needs to be done, probably looking at around €2000 between this and getting the land title transferred

893bet

1200 stamp duty.

Donald Trump

https://www.boards.ie/discussion/comment/121295016#Comment_121295016

Stamp duty went up to 7.5% about 5 years ago.

There used to be a relief (I think down to 1%) for young trained farmers subject to some other conditions. The OP might qualify for that.

nicksnikita

Thanks!

So I’ll be on the hook for solicitors fees. Good to know.

As far as I remember I’ll be eligible for stamp duty relief. I’ll dig out my notes tomorrow again to clarify.

Cavanjack

You’ll not pay stamp coz you are a young farmer

HHH

Whatever you need to pay is money well spent. Most farmers wait a lifetime for adjoining land to come up for sale. Best of luck with it.

nicksnikita

https://www.boards.ie/discussion/comment/121297108#Comment_121297108

Thanks!

Bubbles2323

Hi All,

Similar to the above, my father and myself purchased land 2yeaes ago adjacent to our farm......I've only completed the green cert this September with the cert issued in Jan.

The farm is not transferred over to me nor are we in partnership..... but my name is on the land with the father....we paid 7.5% stamp duty, is is possible to claim this back or does the entire farm needs to be transferred over to claim this back?

dmakc

https://www.boards.ie/discussion/comment/121298544#Comment_121298544

I had this issue a few years back. The land needed to be in my name only, unfortunately it was both me and my father on it so legally we couldn't claim it back retrospectively

kk.man

https://www.boards.ie/discussion/comment/121297108#Comment_121297108

Plus 1.... the best advice you'll get

cjpm

https://www.boards.ie/discussion/comment/121300435#Comment_121300435

This is correct. You’d also need to be enrolled in the green cert prior to the land transfer occurring

nicksnikita

Thanks for the info.

Mods please close thread.

nicksnikita

I got the papers and maps through for the land purchase this week.

The access passage is via a right of way. i.e. it’s not owned by the seller.

Would this be a deal breaker or be likely to cause issues in future?

ballinadog

Certainly not a deal breaker but check the land registry maps for the folio on Land Direct. If the right of way is shaded yellow then that means it’s a registered right of way and so you’re good.

If it’s not registered it’s not the end the world either especially if you don’t need to borrow from a bank to fund the purchase. It’ll become an issue only if you want to build on the land in future, the banks etc will need it registered so that if they ever had to foreclose then everything is above board for the next man in

MIKEKC

https://www.boards.ie/discussion/comment/121660800#Comment_121660800

Your solicitor should have given you this information before you bought the land.

nicksnikita

https://www.boards.ie/discussion/comment/121661065#Comment_121661065

Thanks for the info. Its going to be registered at the time of purchase (if not already done). The seller went to the owners recently with the paperwork and they've signed it off.

The solicitor has provided copies of that documentation to me. I Spoke to solicitor by phone this evening and she says it’s commonplace for right of way to be in place and didn’t discourage going ahead with the purchase.

nicksnikita

https://www.boards.ie/discussion/comment/121661605#Comment_121661605

The purchase hasn’t been completed yet.

We needed to clarify a few things over the new year; one of which was the ownership of the access passage.

The documentation pack arrived this week which included information about the right of way.