Land Sale Advice

[Uzupio]

Can anybody offer any advice on how best to proceed with the following land sale situation?

A close member of my family would like to sell a land holding.

The land he would like to sell is located in a prime development area (subject to rezoning and planning permission) and is situated in the mid-western region of the country. The only access to this land is by way of an 8 foot (2.5m) wide entrance. This land is adjoined by another land holding (most of which is zoned agricultural) that is owned by another member of the family. This family member is now trying to sell his land holding and has had interest from a developer who is also keen to purchase my family members land. The interest in my family members land is dependent on my family member acquiring a wide enough entrance or access as would be required to develop this land. The additional access can only be acquired from the other family members’ land holding (part of land holding not currently for sale). The other family member has always had an interest in my family members land holding as he knows acquiring it would enable him sell prime development land with no access issues for a very significant sum.

This other family member has made ‘unreasonable’ (as stated by my family members auctioneer) offers and requests over the years to acquire my family members’ landholding, all of which have been rejected e.g. 1. Offering to buy the land at a fraction of what he would sell for, were he to acquire and 2. Requested a very substantial percentage of whatever price could be achieved by providing my family member with the necessary additional access to achieve the best sale price.

My family member wishes to achieve the best price possible without creating any difficulty for the other family member but it appears that greed has become the main motivator driving the other family member who now no longer wishes to discuss anything without the involvement of third parties (auctioneers & solicitors) even though all the professional advice received by my family member seems to suggest that both family members should try to reach agreement between themselves.

I would appreciate any advice with regard to this situation as I would not like to see family members become embroiled in a feud over land where only developers, auctioneers and solicitors all win and one or both family members lose (financially and emotionally) as they have been very close all their lives up to now.

Thanks in advance

 

[mf]

Well, I think you've pretty much covered it there.

No-one can force anyone to do anything in these circumstances. It is a shame. It is an opportunity for both parties to do well but only one of them wants to benefit from it.

You say:
" not like to see family members become embroiled in a feud over land where only developers, auctioneers and solicitors all win"
There is no fairy with a magic wand or no big man with a big stick to force anyone to do anything. If this is the way one of them wants to go, the only answer for the other is (a) go that way or(b) walk away entirely.

mf

 

[paulocon]

Agree with mf,

Have seen land issues rip families apart in the past.

The way I see it is that you're family member is obviously going to benefit greatly from the sale of the development land. Obviously, the sale of this land is totally dependent on him/her being able to secure appropriate access to this land which will involve striking a deal with the other family member.

At the end of the day, this is purely a business deal. Put the fact that it involves family/relations to one side and try to deal with it from that point of view. Neither party should be expected to make concessions because of family ties - it's when this situation arises that problems start.

The logical thing to me is for you're family member to make a realistic offer to the other family member - either in person or through estate agents/auctioneers. Have some information on hand to back up this offer (market valuation or something like that) - this will give you a starting position for bargaining.

Failing that and in a position where your family member is being held to ranson, there's not a whole lot can be done about the situation.

 

[Uzupio]

Thank you both (mf & paulocon) for your replies!

Hopefully common sense will prevail and an agreement that is of benefit to both can be reached and a family rift avoided.