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CGT on access rights?
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Originally posted by MickeyPthanks - will do
I think you will be OK if you are under the normal size limits for selling off part of your garden.
If you really do have total control of whether 6 building plots are viable or not you are in a very strong position, don't give it away lightly. Remember pro builder/developers are used to this sort of stuff, treat them like the worst agent you have ever come across. Can any other neighbours give them access ? Has the builder actually bought the plot already ( www.landregistryonline.co.uk and use the map search facility ) ? You may be able to make enquires about buying the plot yourself, that will really put the pressure on !Comment
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Originally posted by rootsnallTaxation web is a very good site for this sort of stuff but it does depend on who picks up your thread, the prof experts do seem to leave a thread alone once one person has started answering your query. Have a read through the old posts and you may find something similar.
I think you will be OK if you are under the normal size limits for selling off part of your garden.
If you really do have total control of whether 6 building plots are viable or not you are in a very strong position, don't give it away lightly. Remember pro builder/developers are used to this sort of stuff, treat them like the worst agent you have ever come across. Can any other neighbours give them access ? Has the builder actually bought the plot already ( www.landregistryonline.co.uk and use the map search facility ) ? You may be able to make enquires about buying the plot yourself, that will really put the pressure on !
There was a house on the corner which had to sell a very very small part of it's garden to make the splay. Checking the land registry details showed that the owner got £240,000 for selling the land!How fortunate for governments that the people they administer don't thinkComment
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If you live on a development-type estate you may have a clause in the contract (I don't think they are called contracts actually but it's something like that) which allows the developers access to your property as long as they repair it when they are done.Comment
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Originally posted by rootsnallIf you really do have total control of whether 6 building plots are viable or not you are in a very strong position, don't give it away lightly. Remember pro builder/developers are used to this sort of stuff, treat them like the worst agent you have ever come across. Can any other neighbours give them access ? Has the builder actually bought the plot already ( www.landregistryonline.co.uk and use the map search facility ) ? You may be able to make enquires about buying the plot yourself, that will really put the pressure on !Comment
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Originally posted by MickeyPThere's no other access. This whole thing kicked off over a year ago but according to a bit of gossip we were asking too much for the access so the sellers of the gardens tried another plan which involved bulldozing existing houses to get at the land. This idea didn't get off the drawing board due to no possibility of planning permission being granted. So they've come crawling back to us now. The developer is speaking to the owners of the 3 gardens involved and then will come back to us with an offer so no land has been bought before all parties are agreed.
A way of answering the CGT query is to ring the IR tax helpline and don't say "I am thinking of" but say "I have just sold a piece of land etc etc -> do I owe you any tax ?". I used this approach in a similar situation and they gave a straight answer.Comment
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Originally posted by rootsnallThe crawling bit sounds like you are on top of things ! Remember at all times everybody involved is greedy and is after money, don't bend to any sob stories. The garden owners will be thinking in terms of giving you a grand or two, I would start your negotiationg stance as I want half of the whole deal and hopefully end up in the middle. Mention your loss of privacy, loss of value to your house etc etc
A way of answering the CGT query is to ring the IR tax helpline and don't say "I am thinking of" but say "I have just sold a piece of land etc etc -> do I owe you any tax ?". I used this approach in a similar situation and they gave a straight answer.Comment
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Originally posted by MickeyPThanks Rootsnall good advice. I think they offered us a 40/60 split with the garden owners when we sent them packing last time. I've already pointed out to the developer that house prices have increased significantly since the last offer and so will be interested to see what they come back with this time! Just a shame I have to split it with my neighbours! How greedy can you get!?
How much will the intended houses be worth ? A developer can knock up 4 bed houses for 100K a pop, if they sell at 250K, you are looking at 100K a plot. Ask for 300K and see if the developer turns red !? Worth paying for expert CGT advice !
Just weighing up buying a house with a big garden at the moment, there is a lot of 'known unknowns' involved !
Forgot to add there are a lot of amateur property developers out there who will pay silly prices for plots that a pro won't. If you are feeing particularly extra greedy you could have a word with the garden owners and work as a team and threaten to get it on the open market.Last edited by rootsnall; 2 March 2007, 11:51.Comment
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Originally posted by rootsnall40/60 doesn't sound too bad, you are greedy, well done !
How much will the intended houses be worth ? A developer can knock up 4 bed houses for 100K a pop, if they sell at 250K, you are looking at 100K a plot. Ask for 300K and see if the developer turns red !? Worth paying for expert CGT advice !
Just weighing up buying a house with a big garden at the moment, there is a lot of 'known unknowns' involved !
Forgot to add there are a lot of amateur property developers out there who will pay silly prices for plots that a pro won't. If you are feeing particularly extra greedy you could have a word with the garden owners and work as a team and threaten to get it on the open market.Comment
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