Licensed Parking

[Copster]

Help!!

I am in the process of buying a new house. The property has 2x licensed parking spaces at the rear that are accessed via a private road. There is an informal agreement in place with the vendors and the owner of the land/private road to allow parking.

I am uneasy about this situation and am on the cusp of pulling out. I have gone back to the vendor requesting

1)a formal agreement be drawn up that ensures the parking remains in place for my ownership and any future owners.
2)an explanation of what happens if the ownership of the private road changes hands

This is obviously all in the hands of my solicitor but...

Is there anything else I should be asking? Or should I be running away quickly as its all to much hassle!

Thank in advance

[ColinM50]

Could you buy the parking area and access road? Or take a long lease on it?

I think you're right to be nervous, personally I'd not buy a property where such a fundamental issue is up to somebody else's good graces and what mood they're in this week. This is business, not playtime. It's either written that it's legally yours to access/use or I'd run a mile. Actually I'd drive a mile, not run one, but YSWIM

[Andehh]

Very well said Colin, I'd be in the same situation. A sudden change in attitude by the neighbours (or they decide to move?) and you could be left very high & dry without something legally binding.

[Sheepshanks]

What's the significance of "licenced"?

[Copster]

Colin thanks for the reality check - I am thinking exactly that. Buying the road is unfortunately not an option

The latest I have heard is its a annual agreement!! So the question I posed back is - So what happens if the owner has a change of heart? Tough luck for me and a huge devaluation in my property!?

I am very close to running away reluctantly - the property is a Georgian Grade 2 listed house so very much a one off.

However, irrelevant of how much I want the property without parking (and a formal watertight agreement) its a no go.

couple of £k down the pan but I would rather be safe than sorry.

Licensed parking - definition I am led to believe is exactly that - a parking area licensed for a specific individual for a specific number of cars. non transferable.

[yellowtang]

Yes, licensing is usually licensed to you personally, reviewed annually for cost and terminates when the property is sold.

It's terrible parking solution.

I recently pulled out of buying a grade II listed Georgian rectory because the church who were selling the property, refused to change from licensing two spaces in their carpark to having the spaces on a 99 year leasehold. I offered £30k extra for this!

[Copster]

That's interesting feedback Yellowtang.

Maybe something that I can propose vi my solictor.