In my experience vendors inflate the price of their land as they expect to accept less than the asking price – be prepared to make an offer! Take this offer to the Estate Agents – remember if you have cash you will be able to negotiate harder. Ensure you don’t go above your maximum budget as there could me many uncertain costs that you haven’t forecasted for.

Offer accepted? You will need to choose a conveyancing (property) solicitor to ensure the sale proceeds legally. Instruct your solicitor and inform the Estate Agent of who you are using. They will then send out a Memorandum of Sale to both parties. This is where details of both the vendors and buyers are listed. At this point it would be wise to meet with a few different ground-workers (tradespeople responsible for digging the foundations and getting to slab level) on-site. This will give you the chance to get quotes and also to inform them of when you would want them to start so they can put it in their diaries.   

From now on, it is in the hands of the solicitors. They will take it from here and will carry out the searches and legalities on your behalf. If everything goes to plan contracts will be exchanged which means both parties are committed to the sale. This is where you will pay a deposit to the vendors’ solicitors. Keep your groundwork company informed of the progress of the sale so they will be aware of the likely start date. Ideally, you would want your ground-workers to start as soon as possible after completion. 

Soon after this you will complete on the plot – congratulations – you’re ready to build a property!

Disclaimer: The information in this website is for general guidance and is not legal advice. Specialist legal advice should be taken in relation to specific circumstances.