- Joined
- 9 Dec 2012
- Posts
- 1,457
Then you have the affordable rent and builds scam by housing associations and developers. its goes like this developer go to local council say we would like to build on this land that the council owns, we will set aside 40% affordable property to buy.
Council sells it to them when the builds are almost complete they use the loop hole to buy of the affordable builds by giving the council some cash.
property developer wins by getting cheap discounted land mush less than market value and paying off the council. example council sell land market value 100million council sells it for 70 million developers use loop hole and pay council 10 million automatic gain of 20 million on land value.
Council sells it to them when the builds are almost complete they use the loop hole to buy of the affordable builds by giving the council some cash.
property developer wins by getting cheap discounted land mush less than market value and paying off the council. example council sell land market value 100million council sells it for 70 million developers use loop hole and pay council 10 million automatic gain of 20 million on land value.