• EDDR ON LAND BEHIND A PROPERTY

    By Guest on 14th Mar 2017

    HELLO,

    WE ARE LOOKING TO BUY A PROPERTY IN LEICESTER AS OUR HOME. WE ARE IN LOVE WITH THIS PROPERTY AND IT TICKS ALL THE BOXES FOR US. HOWEVER, A RECENT SEARCH ENQUIRY MADE BY OUR SOLICITORS MADE US AWARE THAT THE LAND AT THE REAR OF THIS PROPERTY IS OWNED BY THE LEICESTER COUNCIL. ABOUT 20 YEARS AGO THERE WAS A PROPOSED ROAD (EDDR)TO BE BUILT ON THIS LAND.HOWEVER, THE ROAD HAS NOT YET BEEN BUILT AND THE SELLERS BELIEVE THAT THE ROAD MIGHT NEVER BE BUILT. THE LEICESTER COUNCIL DOES NOT HAVE ANY ANSWER TO THIS. MY QUESTION WAS , WOULD IT BE WORTH GOING AHEAD WITH THIS PROPERTY. IF YES, WOULD AN INDEMNITY COVER ME FOR A POTENTIAL DEVALUATION OF THE PROPERTY? WOULD IT ALSO BE WORTHWHILE TO ASK FOR A REDUCTION IN THE SALE PRICE. WE ARE A BIT CONFUSED AS WE WOULD NOT LIKE TO PULL OUT OF THIS SALE AND AT THE SAME TIME CONCERNED THAT WE WILL BE PAYING A BIG PRICE FOR THIS PROPERTY AND WOULD NOT WANT TO MAKE A LOSS. HOPE THAT YOU CAN HELP US IN TAKING A DECISION. THANK YOU.

    VARSHA G.

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