Jump to content
House Price Crash Forum

Mid Powys

Recommended Posts

I viewed a place today in mid Powys with ~ 90 acres of good quality land and a nice enough 3 bed house with decent outbuildings and a poly tunnel.

They've not had any bites so they are now splitting it up into:

1) House & buildings £375 with ~ 7 acres

2) ~ 40 acres grazing, £120K

3) ~ 30 acres young woodland with small amount of road frontage - £60K

It has been on since June (the house with all the land) but it only got onto my radar when 3) came up on its own.

I'm only interested in 3 - in fact I'll bite their hand off @ £2K per acre - but they've said they'd only agree to an offer once they've sold the other plots, obviously they would rather a single transaction.

Reckon I'll say I'm interested but not put offer in until they are in a position to accept it.

It's a boomer couple splitting up.

Link to post
Share on other sites

There may be several reasons why they have said this.

I have recently split up a portfolio of 2 properties and a land plot as the only offer for the whole package was half the asking price. He would not sell the land plot or one of the properties until the other property was sold.

Ideally he wanted to sell in one deal, but needed to keep hold of 2 parts as selling a certain part of the portfolio put a stop to opportunities of development of the others if that makes sense.

Would selling the woodland part first cause any potential access problems to the other parts of the portfolio?

Maybe they are hoping to sell the part with buildings to pick up the largest amount of capital and hold out for the best deals with the land. Possibly knowing that whoever buys the house may want to take up an option to buy some or all of the land at a later date.

Link to post
Share on other sites
Would selling the woodland part first cause any potential access problems to the other parts of the portfolio?

Psychologically, maybe. Cleverly they've given the woodland 30ft of road frontage with vehicular access down a shared track for the first 100 yards then it's the house kind of in the middle sandwiched between the wood and the grazing.

The EA called me today.

I'll say that again, the EA called me today, I can count on one hand the times that's happened in the 4 years we've been viewing places.

I've said I'm inclined to make an offer (and am cash buyer etc) but am not willing to when the status is up in the air. EA said they'd call back after discussing with the vendor.

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 419 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.