Hi
We are negotiating on a piece of land with an overage established by a previous owner, not the current vendor. The land is restricted to equestrian use and variation dependent on paying an unspecified amount to the covenantor (is this a real word?) Speaking directly to the covenator he will consider removal of the clawback (25% of uplift in value on the planning permission being granted), on payment of an amount he feels is enough!
Question has anyone on the forum dealt with similar negotiations and whats everyone's thoughts on how to get a 'value' which I would assume must indicate a final valuation of land with an agricultural tied small house commensurate with an agricultural workers wage/requirements less a sum for the 'risk' involved with gaining any PP I'm of the opinion that anything beyond a small consideration is not worth paying and so despite the site being almost perfect for our plans we may just have to walk away, then he gains nothing but I don't suppose these people think that way.
Cheers