Buying Land From Your Local Council- What You Need to Know Before You Apply

Buying Land From Your Local Council- What You Need to Know Before You Apply

Buying land from your local council is possible. In various countries around the world, there are numerous vast stretches of land which are often owned by councils.

Citizens are able to buy this land by putting in an application with their local council.

How to go about buying land from your local council:

Don’t underestimate the true time and capital requirements.

The council must first decide if it wishes to sell or keep the area of land in question. This generally involves a process of consultation with ward members.

Councils are often concerned that they are seen to be getting the best possible price. This is why in some cases council-owned land is sold via a public tender process.

If you are interested in buying land from your local council you need to keep in mind that a significant portion is usually required to be paid in cash. You need to be willing to put up between 20 and 50 percent as a down payment.

A direct approach may be best, instead of corresponding via email only.

You can do this by ensuring that you establish that you know what you’re doing and are a serious buyer. Prepare a thorough proposal detailing why you should be granted first option to buy land from your local council.

You also need to show your council that you are willing to pay a fair market price. You should demonstrate a clear understanding of how much you are expecting to pay for the land in question.

Your application should, for instance, suggest a basis for the purchase. If you have building plans you should ensure that your building plans are fully compliant with zoning restrictions.

 

 

 

Categories: Mortgage

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