There are many ways to find building plots in the midlands but many developers do not like to look at site that have been on the market for some time. The reason for this is that they believe that if the site or plot was a great deal one of their competitors would have already snapped up the site. The same applies for many vendors, those who own potential residential or commercial redevelopment sites often prefer to sell “off market”. There are various reasons for this but many spend time and money negotiating with potential purchasers who cannot actually buy the land or they will switch terms at a late stage in the land deal.
Many plot sellers prefer to deal with a broker or joint venture partner who they know is more likely to close the deal and deliver the profits. So many potential residential redevelopment sites are sold “off market”, through a closed network of established developers, main contractors and joint property development partners. Established main contractors have the experience and credibility that is required to obtain the essential property development or bank finance, so they offer an excellent opportunity for site owners who wish to share in the property development profits. They can also provide option agreements where the vendor allows the developer to arrange the planning application. This is often structured so that in exchange for a period of exclusivity in which the developer can purchase the site they arrange for the planning permission and there for secure the planning gain.