If you are thinking of selling land, there are a few simple things you can do to maximise the returns you might be able to get. With a bit of preparation and planning, values can be enhanced and the potential for a long drawn out sale or a stressful transaction can be avoided.
Here are our top five tips:
- Ensure (as much as you can) that all important documents are available and current. This can include way-leaves, easements, tenancies, access rights, stewardship agreements and most importantly, title deeds and plans. If your land has not already been registered with the Land Registry, get it done before the sale. You will have to do it anyway, so doing it beforehand will thrash out any potential gremlins or legal issues. If issues become apparent when the sale is with solicitors, it can cause offers to be reduced at the last minute or for sales to fall through altogether.
- It’s an obvious one but is still often overlooked – First impressions count. Clearing ditches, trimming hedges, topping weeds, clearing rubbish and scrap, tidying up gateways or replacing slipped tiles on buildings can transform the appearance of a property and reduces the risk buyers will associate with the large investment they are about to make.
- Forewarn interested parties. If you know you are going to sell land in the near future, it can be very useful to notify people you think are going to be interested. Doing this will enable potential purchasers to get themselves in the perfect position to make their best bid. Importantly, it may also stop interested parties from bidding on land elsewhere before your land is ready to sell.
- Planning Permissions. Particularly if your sale includes buildings, is there value that can be unlocked through gaining planning consent? The current Class Q permitted development rights are highly advantageous and can dramatically increase values. A little investment can go a long way.
- Professional advisors. Engage with your accountant, solicitor, bank manager and agent to get advice so that your affairs in order and to mitigate any potential tax liability.
If you would like further advice with regards to anything mentioned above, please contact Charles Daniell on 01684 325215 or 07814 033449.