Getting Your Rural Land Ready for a Sale – a COVID Update
This time last year, we had just cancelled our annual rural land seminar that was due to take place at Knebworth House. At that time, we were hoping this was only a temporary postponement and that it would take place a few months later. Clearly that was not to happen, although we are hoping that March 2022 will be more successful.
When I was preparing the contents of my talk for the 2020 seminar, the subject matter was about getting rural land ready for sale even if you did not actually have any immediate plans to do so, as unexpected events might require a change of direction….how true that has proved to be over the last year!
It remains the case that you may not intend to sell your land but that it is a good idea to have everything prepared in case you either need to sell or decide to for other reasons. The current land market is surprisingly buoyant and when rural land comes up for sale, terms are often being agreed extremely quickly, certainly in this area of the country. However, the legal work can take longer than may otherwise be necessary if the seller has not actually considered various issues relating to the land before going to market.
At Longmores, we work closely with land agents and clients, to ensure that any potential issues have been sorted out – so far as possible – before the land goes to market. In our experience, if buyers are aware of any potential issues before they put in an offer, the result is usually that both parties are happy with the agreed price from the outset, less enquiries are likely to be raised about any such issues, and the transaction is likely to proceed more quickly and speedily.
Here to help
Please note the contents of this blog are given for information only and must not be relied upon. Legal advice should always be sought in relation to specific circumstances.