2 replies to this topic

[Sylvie]

Hello again Dave, Can I just check with you the following quote from the agents selling an otherwise perfect piece of land:

"The Vendors of this land reserves the right to a 50% share of any future development value involving change of use for commercial or residential purposes for years."

We hope to eventually have a small farmhouse and make our living from the land with a mixture of animals and fresh produce.  Would that be deemed as 'commercial or residential'?

I am amazed vendors are allowed legally to stipulate this type of clause.  The land is freehold after all! 

[che]

Well done Sylvie if everybody took this stance these clauses would die out.  I recently offered the asking price conditional on removing such a clause, it was not accepted and the land remains up for sale.  However the farmer and his agent are in no doubt that this clause has affected its saleability.  This blog is also further proof to anyone considering buying with these conditions that it will affect your chances to resell if nessacery.  Mean money grabbing springs to mind a person who can not cope with you gaining something from the land he could not.  25 years appears to be the norm but this person wants why not forever, only buyers can stop this madness.  Dave C