UK Land Investments - Plot For Sale

[JJL3142]

Hi

About 1.5 yrs ago I brought a plot of land from UKLI for £12.5k - this benig a long term investment I need to sell it (currently worth £14,000). The plot is based in Paddock Wood.

Anyone know how I can sell the land quickly ?

UKLI say they can sell it but it would take upto 3mths

Thanks

 

[anley]

Pervaz

Sorry but youve been scammed, your land is worth basically nothing.

 

[Mayfly]

Hi,

You could try: http://www.lambertandfoster.co.uk/ , but do you know where your plot is exactly?

HTH

Mayfly

 

[adrianallen99]

Pervaz

Sorry but youve been scammed, your land is worth basically nothing.

I agree, most of these investment land purchases are on greenbelt or agricultural land which has a limited to zero chance of getting planning permission.

You could just advertise it or wait 3 months for UKLI to sell it.

 

[frugi]

http://money.independent.co.uk/personal_finance/loans_credit/article47647.ece

 

[JJL3142]

Thanks for the replies

Thanks for the replies you have been really helpfull.

Wonder if I can "force" UKLI just to return the money (original investment) by saying i will take them to court e.g. misrepresentation

 

[anley]

Thanks for the replies you have been really helpfull.

Wonder if I can "force" UKLI just to return the money (original investment) by saying i will take them to court e.g. misrepresentation

Certainly worth a try but then factor in your legal costs. Also, the scammers know what they're doing so themselves invest heavily in tight(ish) legal documents.

My advice is to take them to court yourself and this book may well be a great investment http://www.amazon.co.uk/Small-Claims-Procedure-Practical-Guide/dp/185811277X

 

[jiggly]

Pervaz

Sorry but youve been scammed, your land is worth basically nothing.

that is not a constructive comment, and demonstrates a lack of understanding. A comment like that does not help.

it seems to me that you know the price of everything but the value of nothing, because you/we dont know the quality of the land, where it is located exactly, what type of land it is, what the local councils plan is to fit it into their framework, what the housing demand is for that region, what amenities and infrastructure are in the close vacinity, history of planning applications close by, immigration and population for the region, employment conditions and the list can go on if i sit here long enough to think about it?

if you are the expert then how have you investigated this for him??, how did you come to the conclusion that the land is worth basically nothing???

 

[Crap Buddist]

Well yeah how many acres is the plot ? 10K is alright for 5+ acres of woodland. Nice chill out spot, and why not put a temp building on ?

 

[jiggly]

Well yeah how many acres is the plot ? 10K is alright for 5+ acres of woodland. Nice chill out spot, and why not put a temp building on ?

i dont even think 5 acres of woodland is alright even for 10k, from an investment perspective it is not attractive, because you will very unlikely get any planning permission in the first place, if there are tree preservation orders on the land then you couldnt even chop those trees down and sell the lumber....private land like this could be acquired and filled will game for hunting.....there are possibilities available if you think about it, but it does depend on the covanent on the land.....

 

[DT]

The OP has clearly been scammed - I very much doubt he'll make any money out of this at all.

 

[zambuck]

Parvez

Just organise a beer and kebab party on your land.....

We will be there and can have discussion on site....

 

[nobrainer]

yeah, thru in some mushkaki, chicken wings and other stuff from Regency and it will be fun...

 

[zambuck]

...Aha a Regency fan I see....!...Yes that is a class act in food....

 

[pinktink28]

Does anyone here actually realise that no matter who sold you the land it is a valuable asset? Seriously guys get real, land is a finite resort - for all those who don't know what that means it means there will be no more made. Therefore it does have commercial value and is worth money. However, planning permission on these kinds of land is virtually impossible at the moment.

 

[ns1000]

Does anyone here actually realise that no matter who sold you the land it is a valuable asset? Seriously guys get real, land is a finite resort - for all those who don't know what that means it means there will be no more made. Therefore it does have commercial value and is worth money. However, planning permission on these kinds of land is virtually impossible at the moment.

It may be an asset, but that doesn't mean it's worth more than 10% what you paid.

Arable land is about £5000 per acre, depending where in the country you are and the size of the plot, but land with planning permission can fetch dozens of times this. The relative values are the point.

What's unreal is that dodgy 'property' companies will sell you land at 10x what its worth by convincing you that their is a chance it can be built on. A very slim chance indeed, as a rule.

 

[pinktink28]

It's true there are companies out there who over inflate the prices they sell land at, promising planning will be granted in 3-5 years or the possibility of resale if you need it. However, these companies bank on the fact that by the time you realise that it's not going to get planning, they have long been shut down by the FSA - negating the possibility of achieving a resale through them.

There are companies on the market though who are taking on resale plots of land, I'd suggest for those looking at it just go to your search engine and see what companies come up.

As for the price per acreage - it's a buyers market, so you'll get what they're willing to pay. However, you're more likely to get more closer to London, or near to an already developed area rather than a field in the middle of nowhere.

 

[Splitlink]

Does anyone here actually realise that no matter who sold you the land it is a valuable asset? Seriously guys get real, land is a finite resort - for all those who don't know what that means it means there will be no more made. Therefore it does have commercial value and is worth money. However, planning permission on these kinds of land is virtually impossible at the moment.

Yes, but, according to the Moneybox programme, the shareholder paid about 30 times the present day value of it. Maybe, one day, the council will want it for a motorway project!.

 

[ns1000]

They're able to operate because land sales aren't regulated by the FSA - even if they're touted as an investment.

You hit the nail on the head where you say that 'it's a buyers market, so you'll get what they're willing to pay'. The point is that this is highly likely to be a fraction of what you paid.

For an example of a scam see this http://www.braintree.gov.uk/NR/rdon...D6-6350041FEA13/0/InternetLandSaleSchemes.pdf

 

[Splitlink]

It may be an asset, but that doesn't mean it's worth more than 10% what you paid.

Arable land is about £5000 per acre, depending where in the country you are and the size of the plot, but land with planning permission can fetch dozens of times this. The relative values are the point.

What's unreal is that dodgy 'property' companies will sell you land at 10x what its worth by convincing you that their is a chance it can be built on. A very slim chance indeed, as a rule.

Don't tell me that the councils and government did not know that this was happening pretty well from the start.

This is, exactly, like the postage stamp racket with two companies, one in Barcelona (Forum). The investor actually possessed the stamps to the value of his investment. That was supposed to be his safeguard in times of trouble! You can imagine that there were no penny blacks involved in his investment. All were recent issues that could be obtained for peanuts from any philatelist. When the company went bust, the investor was solemnly told that he could go down to the office and retrieve his investment, which was held in their vaults.