Peterparky

Thanks guys for the advice - yes more of a 'mates' agreement but still binding and really good to get a cross section of experienced advice on matters like this. Regards

Hi All Looking to buy and renovate properties (flats ideally) with a view to flip and BTL alongside my Landscape gardening business with the ultimate goal of a small self build once we have enough money saved and a plot! There is some really great help here so i will be checking back often and with 20 years of landscaping and gardening experience hope i may be able to help as well. In the meantime if anyone can add to or advise on a query i have presently - form 2012 - 2015 i worked in garden and always thought the next door garden had a really good building plot potential. They were elderly and had sectioned it off with a small block wall as per pics. I was working with a builder on some projects and we often talked about finding land. So i knocked on the neighbours door and asked him if he would ever think of selling - he gave us a price of £80,000. We talked about how it may be possible to get capital and invest - the builder wanted to build and live in the plot, so agreed to pay me originally £10,000 for the 'finders fee' and not invest so he could live in it. After 4 years of trying to get planning, gaining a new business partner who funded the build -they have finally built and just about to complete on this - £329,000 There hasn't been any contact with the builder really over the last 4 years and i have only just seen the property - i phoned him and he said he was happy to give me £1000 'finders fee' - they have made £70000 ish on the project after fees. Is there an agreed principle in this or rule of thumb - i am not after money just a fair deal. If the general rule is 1% of the land value for example then £1000 is generous, if the rule is 1% of the sale price then it should be around £3.2k. If there are no rules any advice would be appreciated - we are not friends more acquaintances, i'm not really looking to take it legal - Thanks for any replies or help Ian