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Remus2004
Remus2004, Barrister
Category: Property Law
Satisfied Customers: 69775
Experience:  Over 5 years in practice.
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We are looking to buy a piece of land known as a ransom strip

Resolved Question:

We are looking to buy a piece of land known as a ransom strip in front of our bungalow (25 square meters of tarmac) between our boundary fence and one across the ransom strip.
We can purchase this for £5,000 What would the fees be to purchase please and what is involved and time scale.
Submitted: 2 years ago.
Category: Property Law
Expert:  Remus2004 replied 2 years ago.
Thank you for your question. My name is XXXXX XXXXX I will try to help with this.

Ignoring disbursements how much is it cost you just for the legal fee itself?

The legal fee alone should probably be about £500 plus all of the usual disbursements.
Customer: replied 2 years ago.

Thank you for your reply.


What you are quoting is the cost it was to buy the bungalow we are in. (£152,000. Its only a narrow piece of tarmaced land barely wide enough to drive a car down and not wide enough to make a run in for another property costing £5,000.00p? No searches etc needed as its a cash sale.


Why such a large fee?

Expert:  Remus2004 replied 2 years ago.

If you are buying a piece of land which is 12” sq, the amount of work involved is exactly the same as the amount of work involved in buying 12 acres. There may be a liability that attaches to it and even though you say that no searches are required I would never suggest for one moment that anyone does not have searches done when they are buying a piece of land even if it is cash.

 

The only thing therefore, if you are not having searches done, is the actual cost of the search itself (which is a disbursement) and the studying of the searches. You are at liberty not to use solicitors and to give the seller the money and take the transfer deed off him provided you trust him that you are getting what you think you are getting as having parted with the money he will actually give you the transfer deed.

 

You will then need to submit a Stamp Duty Land Tax return to the revenue and register the property at the Land Registry. The only difference between buying this land and buying the bungalow is the size of the land. The process is exactly the same.

 

Can I clarify anything for you?

Remus2004, Barrister
Category: Property Law
Satisfied Customers: 69775
Experience: Over 5 years in practice.
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