Linusmichael Posted April 18, 2014 Share Posted April 18, 2014 Any thoughts on uplift clauses? We are in the process of buying a property and it has one of these clauses on the deeds, it comes into effect if we build another "dwelling" on the land. The thing is, we aren't buying a house in huge grounds, it's a 1930s house on a small plot of land. If someone wanted to build more houses they'd need to knock the current one down (which has just been extended and renovated by a builder...). The builder signed the agreement only a few years ago with the previous owner... The uplift clause lasts for 40 years, and although we have no plans to build more houses on the land we are very worried it will put off future buyers. We;ve been told they are now relatively rare clauses on residentai land... does anyone know how easy they are to get rid of? Just wondered if anyone had any direct experience of purchasing a house with such a clause and or selling one on?? We are worried we'll end up in our dream house, but will never be able to shift it... Quote Link to comment Share on other sites More sharing options...
renting til I die Posted April 18, 2014 Share Posted April 18, 2014 (edited) Normally these clauses are on green field sites where the seller wants a cut if you get planning permission in the future and make a shed load of cash! I've never heard of it on residental land before but guess it is the some effect. Seller (or greedy git!) thinks site could be developed but can't be bothered to do it themselves, so puts in a clause just in case you deicde to put in the time and effort to redevelop the site. Shouldn't be a problem if you are planning to live there long term and have no plans on building anything. If you think it could affect the resell price and you were unaware of the clause when you made the orginal offer, then maybe you should make a new offer stating that this is the offer if the clause remains. Edited April 18, 2014 by renting til I die Quote Link to comment Share on other sites More sharing options...
Monkey Posted April 19, 2014 Share Posted April 19, 2014 We are worried we'll end up in our dream house, but will never be able to shift it... I would suggest this is not your dream <s>investment</s> house then if you're worried about resale, as it has contractual obligations you're not comfortable with. A dream home is not just thr bricks, its the land, location, costs etc basically everything to do with it Quote Link to comment Share on other sites More sharing options...
Linusmichael Posted April 19, 2014 Author Share Posted April 19, 2014 I would suggest this is not your dream <s>investment</s> house then if you're worried about resale, as it has contractual obligations you're not comfortable with. A dream home is not just thr bricks, its the land, location, costs etc basically everything to do with it True, true...to be honest it's making my head hurt! The house is our perfect house, the location isn't perfect as it's by a very busy road but that is our compromise (the house in the middle of a quiet street would be way out of our budget!) The clause itself doesn't bother us as we have no intention of building more properties on the land but reading up about these clauses suggests they can make properties unsaleable...which of course worries us a great deal. As with most house moves we are up against the clock too as our buyers are ready to move! Maybe we ask for a nice reduction on price with the clause in place and we try to sort out or we insist the seller has it removed? Quote Link to comment Share on other sites More sharing options...
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