How to buy and sell land 

Land value can vary depending on many variables, typically an acre of farmland in the UK is valued at between £12,000 and £15,000.

Although land is a physical asset and will always have a base value many variables such as location and demand for investment can affect the price you pay. Planning permission can also greatly affect the costs and land with planning permission will be significantly higher.

The difference between the two can be easily summarised as brownfield land has previously been developed on and greenfield land is undeveloped, agricultural areas of land that are being considered for urban development.

Each one comes with different pros and cons but is it mostly accepted that brownfield land is easy to obtain planning permission and easier to sell. The Government is committed to developing brownfield sites as a priority and there are 66.000 hectares of these sites in England. A local council will generally look very favourably on restoration projects to clean up local eye sores or remove hazards in favour of more additional housing.

Land generally falls into two types of planning scenarios. Land with permission and land without planning permission. It is essential that you clarify with the local authority how they will let you use the land and ensure that the right permissions are granted.

To apply for planning permission, contact your LPA through your local council. If your project needs planning permission and you do the work without getting it, you can be served an ‘enforcement notice’ ordering you to undo all the changes you have made.

There are a number of ways to buy land such as;

• Sealed bids
• Using an agent
• Bidding at auctions

Whichever method you choose it is always best to speak to a professional land agent first.

Having a solicitor who specialises in land sales will save you time and more importantly money. Hold ups can often occur when the wrong information is provided and a trained legal professional will help speed up any delays and be able to check surveys and assessments for you.

Once your solicitor is happy with everything and all checks have been made you will be notified that you are ok to sign the contract and transfer funds to your solicitor ready for exchange. If your contract stipulates that the sale is dependent on planning consent then contracts can be exchanged on a conditional basis. This aside, once you have exchanged, you will be legally bound to the contract providing all conditions have been met.

Once your purchase completes, you will need to make sure your land is insured, particularly if it is to become a building site. It is important to make sure your chosen builder and architect are closely aligned before the build process begins. You may wish to appoint an experienced project manager to closely look after the development.

If you plan to build homes on your new site then it is important to find the right new homes agent. Using a specialist new homes agent will help with speed and compliance issues that can arise from selling homes. Our specialist new homes team can help sell your homes no matter the size, click here to see how our new homes team can help you.