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Original poster

House with seller retaining a ransom strip

39 replies

Iamsodonewith2020 · 09/05/2021 15:09

We have found our dream forever home. It really is a worst house on the best street with nearly an acre garden. BUT estate agent just told us the seller is keeping a ransom strip 1m wide around the whole of the property’s boundary. Estate agent won’t divulge why. I have noticed that the house next door is actually at the bottom of the garden (long driveway) and has just sold to a developer including it’s 2 acre paddock.I think our seller is keeping the strip to either A) prevent a developer buying his property for access or B) gain financially when neighbouring plot is developed as the current access is only a car width wide. Should we walk away?

OP posts:
FurierTransform · 10/05/2021 09:55

Ransom strips are completely normal & the specifics (width/location) are always up for negotiation. Seller is probably aware of development potential & wants to ensure he gets a slice if the garden is built on in future.

If this is your 'forever home' & you have absolutely no plans to sell off half the garden in conjunction with the neighbours in order to cash in on a building plot, they will have zero affect for you, & in fact this could be an excellent opportunity to get some money off the property as it is naturally worth less to developers.

They are usually time limited too - 20 years etc.

House2home21 · 10/05/2021 10:09

I think your solicitor - if it got to that stage would have a lot to say about this!! EA mostly know very little about the legal s.

Might actually be worth appointing a conveyancer now to get their opinion.

Saz12 · 10/05/2021 10:34

The strip doesn’t effect your access to your potential property. It means that if you were to sell your garden for development then the current owner would get a cut (as developer would need to buy the ransom strip), or else he could prevent development on that land.

It reduces the financial value of the property as it reduces future options. Depends if you think the property is worth the asking price to you “as is” - with no scope to sell to future developer.

The building work beside you is a risk anywhere where houses sit on large plots with land used for horses rather than agriculture.

Londongent · 10/05/2021 10:52

If I understand this, the seller is keeping a 1m wide strip around the border of the property, presumably to stop any buyer selling off part of the acre of land to developers, without the seller's permission for access.
I guess if you have no intention of selling off any of the land this is not a problem. But then why should the seller profit this way if you did want to sell some land? I just don't like it.

Duvetflower · 10/05/2021 11:27

Is the ransom strip there so the seller makes money if you sell the garden or is he trying to prevent building on your garden? I'd've thought it would make more sense to sell the land to a developer himself now (unlesss there are planning issues) so it could be his way of keeping the village naice

Hazel444 · 10/05/2021 13:59

@Duvetflower

Is the ransom strip there so the seller makes money if you sell the garden or is he trying to prevent building on your garden? I'd've thought it would make more sense to sell the land to a developer himself now (unlesss there are planning issues) so it could be his way of keeping the village naice
It could be that - but then he should stay put if he is that bothered about the village! This just seems like a way of having his cake and eating it with no apparent benefit to the OP - unless the house is massively discounted for this reason. It may as well be a leasehold house with this strip around it.
Ollinica · 11/05/2021 02:18

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TobyHouseMan · 11/05/2021 13:02

I would walk away from a ransom strip - you will never feel you really own your property.

If he is selling it he's selling it - what he is trying to do is have his cake and eat it. Wants the money but wants to retain control. I wouldn't do it.

I'd be tempted to go along with it until day of exchange and refuse to exchange unless he removed the strip. High stakes game though.

C4tastrophe · 11/05/2021 13:23

It would be a no from me.

GappyValley · 11/05/2021 13:27

If you definitely don't want to develop it, could you negotiate with the seller to swap the ransom strip for an overage clause? Limited to 20 years or however long you see yourself staying there?

Miasicarisatia · 11/05/2021 13:30

So they want to sell the property but still retain control over it?
What kind of fool would agree to that!

ViperAtTheGatesOfDawn · 11/05/2021 13:31

If it's outside the fenced boundary I can't see why it's an issue. It will have no impact on your use or enjoyment of the property will it?

TheFnozwhowasmirage · 11/05/2021 21:21

I'd walk away. Would he consider an uplift clause instead? That is more reasonable and very common.

LaurieSchafferIsAllBitterNow · 11/05/2021 21:21

How is he keeping the ransom strip if it is outwith the garden? It surely belongs to the neighbour, or someone elses.... he cannot just claim a 1 m strip around his/your garden
It must belong to the house already, if he wants to keep it, or he will have to buy it from AN Other.

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