Residential Garden Land Valuation Required - Help!

[bunny 10]

Hi.

 

Looking to purchase a small piece of garden land from my neighbour but i'm having real difficulty getting anybody to value it. Most estate agents will only value properties and the majority of land valuation services are commercial only.

 

Anybody had any luck with this and if so, who did you use? We have a conveyancing solicitor but we're not at that stage just yet.

 

Thanks!

[casualbystander 0]

how big is the land? does it have separate access from a roadway or could there be? pm me the postcode and i can look on google maps, we buy and sell land sometimes so might be able to give you a rough guide.

[Tony 10]

As garden land it's five hundred quid. Offer that and see what they say.

[bunny 10]

1 hour ago, Tony said:

As garden land it's five hundred quid. Offer that and see what they say.

We actually offered a lot more....

25m2, heavily overgrown and 4 trees in there. We offered 1300 (plus all fees and some tree surgery to their garden) and just need some experts to say it's a good solid offer and we're not taking the p*** but getting anything official is proving very hard.

[Tony 10]

There's nothing official to be had and a chartered surveyor's valuation would cost you as much as its worth. Your offer of £1,300 plus fees is a perfectly respectable for that 25 sqm of garden. The trees probably reduce the value as they are a liability that reduces the usable area. 

 

The fee to create a simple sale contract between you and to submit the TR1 to the Land Registry should be low if you keep it simple. You only need one solicitor. I'm guessing you will expect it all to cost a couple of grand by the time you have done. Unless you aren't desperate for reasons you aren't revealing or there there is a queue of other buyers, your seller is getting a decent deal if they want to sell.

 

That said, if you absolutely need the land, say to build an extension, you must have the land so you are on the back foot and you need to weight up just what it is worth to you, not how much you can buy it for. 

[casualbystander 0]

if you get it for anything like £2000 inc fees its a bargain

[Tony 10]

That depends on whether you pay too much for land.

[casualbystander 0]

1 hour ago, Tony said:

That depends on whether you pay too much for land.

its worth what ever the buyer wants to pay? if the buyer is happy its a bargain, this bit is less use to the seller as it is.

7 hours ago, Tony said:

As garden land it's five hundred quid. Offer that and see what they say.

what planet are you on £500 quid😄

[ttparsons 10]

You might pay £50 a m2, say, for building land.  Check auction results or asking prices for any plots in your area. The land you are buying presumably has no commercial value on the open market, only to you and the neighbour.    Therefore you and your neighbour just need to be happy.