Advice and a what would you offer on a house with agricultural tie.

(4 Posts)
Collywobbler Tue 09-Aug-16 10:46:19

Bungalow in south wales with 5 acres of land and a few outbuildings and a small 1 car garage.

Really really dated bungalow, think pink bathroom suite, wallpaper on every wall, pattered pink carpets throughout.

It has an agricultural tie which isn't a problem for us. Been on the market for 4 years at the same price of 400k.

Not in a position to even go view it right now but we are hoping and praying they don't manage to remove the tie by next year which is when we will be ready to move. If they manage to remove the tie it will sell quickly.

we've done some basic calculations and the max we could offer is 349. we don't really want to offer that to start with as IME the first offer is always refused, so would a lower offer than that be a complete mick take?

Also, has anyone ever bought a house with an agricultural tie was it a more involved process than regular house buying?

Glittershoes22 Tue 09-Aug-16 12:50:23

I haven't got experience on agricultural ties (someone more helpful may come on later) but I would make initial enquiries with your mortgage company and insurer before you begin. The house we are buying has land (6 acres) and stables/outbuildings and our mortgage broker told us it might be difficult to get a mortgage with some lenders who would class it as a business ("equestrian") premises (!). Thankfully its very clearly a house so the extras weren't an issue but the agricultural tie might change things. Our insurance has also doubled to any eyewatering amount but we love the house and its worth the extra.

ExConstance Tue 09-Aug-16 12:51:39

30% according to this Some useful info there. I used to do planning work for a lock authority many years ago and the guideline then was that if it couldn't be sold in 2 years with the tie you were well placed to have it removed.

Collywobbler Tue 09-Aug-16 13:55:21

thanks both - damn Exconstance they are over the 2 years so might get removed anyday now then! thanks for the info

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