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Selling property to possible developer...

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  • Selling property to possible developer...

    Having verbally accepted an offer on my house, I have now discovered that the buyers plan on using the land (approx 3/4 acre) for major development. In addition, they own a very large chunk of land to the rear of my property (Bovis Homes development type of size). They require my property as it is the only means of access to their land. Without it they will never be able to get planning permission due to zero access. My question is, can I legitimately demand a higher price given their proposed plans? The property is very desirable and has had over 20 viewings withing the first month of it being on the market. I have received only one offer and it leads me to wonder if the agent has blocked any other offers in order to give first dibs to this developer (perhaps in some sort of arrangement whereby he could market any houses built on the land). I appreciate the lack of detail in my post, but never sure who posts on these boards.

    Cheers, R.

  • #2
    Re: Selling property to possible developer...

    At the end of the day, your perogative is to ask for a reasonable price, and instruct an estate agent to follow this through for you.

    The danger with trying to push the price too high is that developers can sit on land for a very long time - they all have "land banks" worth billions. So they can afford to wait as long as they need to.