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  • Tax

    Compulsory Purchase order

    I have just received a letter saying a flat I rent out may be demolished by a housing association.

    They are seeking to buy the leaseholders and I presume eventually they will need a CPO for those who do not sell

    I have googled various articles and I am aware that I can get roll over relief if I buy a property with the proceeds I receive form the sale.

    I have also been told that the association would pay my reasonable cost in purchasing a new property such as stamp duty.

    However I have read that rollover relief is not given if I have in the last three years attempted to sell the property or entered into negotiations to sell the property.

    So when I reply I assume I need to stress I do not wish to sell, is that correct?

    I will also be able to claim the costs of a lawyer to transfer the property and buy the new one and a Chartered surveyor to negotiate for me.

    So

    Anyone with experience of this ?

    Any recommendations for a solicitor and a Chartered Surveyor

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    im going through same with lb newham.  wheres your property?

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    I am in SW London and would rather not give the exact authority

    Part of the reason is the nature of the negotiation process that at the moment I know very little about.

     I am aware that i need a commercially aware Chartered Surveyer to make sure I get the best deal I think we both do

    I bought the flat 18 years ago and it has tripled in value so wish to make sure I get roll over relief I also want to make sure that I get paid the stamp duty I will pay is reinbursed 

     If I go to CPO I get both of those

    At the moment the authority will not pay the stamp duty on any new property I buy however they say thy may "negotiate"  I do not what there is to negotiate as at CPO that is a given

    I want to know the pros and cons of coming to an agreement before the CPO



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    To make that clearer they have said if I negotiate now they will not pay my stamp duty on any flat that I buy, however they admited when asked a direct question if we go to a CPO they will have to

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    if there is no cpo you are of course under no compulsion to sell.  so they should be making you a generous offer.  there is no certainty that an application for a cpo will be granted.

    usually there is some sort of agreed 'charter' setting out the package of compensation.

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    Hi Joe

    They have laid out the exact terms of their offer which are different for an owner occupier who will get market value plus 10% plus moving expenses

    I get the same but not the 10% uplift, they currently do not include the stamp duty for either an owner occupier as expenses.

    As I already  googled it I said as there  is a statutory right to claim stamp duty if there were a cpo why would people accept less they said that it is a business decision under review and people were selling to the under the current less generous arranegment

    I have googled and one guide said it was a myth that waiting gets you a better offer as below

    I really need a decent Chartered surveyor to negotiate for me


    http://hoa.org.uk/advice/guides-for-home...d-to-know/





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