How much would you pay?

Hi, i'm hoping you can help.

I'm half way there to agreeing to purchase a garden, which orginally should've belonged to my house, but cutting along story short, the owner before me sold it to somebody else.

I am now trying to buy it back, but at what price? I am confused as to what would be a reasonable price to pay for it. It is a good size at about 28 metres long 5.5metres wide at one end and 12.5 metres wide at the other end. Is there a going rate for this sort of thing?

Any guidance or advice would be most appreciated - oh and unfortunately, 2 other people would like to buy that same garden, but i've been given first chance.

Many thanks -

 

pixie: good luck in your research

 

Hi Pixie & Mira,

The value of the land is proportional to the added value it will put on your house. It may not be worth a lot as agricultural land, but if it makes your house worth 20k more then the seller will want a cut of that i'm afraid.

 

I think the "price" is what the parties are willing to pay / receive. if the land was sold to the neighbour, then I would expect the neighbour to only want to sell it for a profit - unless they are now on hard-times 'coz, if they 'aint on hard-times, they can just sit on it until either a) they are on hard times or b) someone offers them a decent profit.

Willing-seller + Willing-buyer and all that jazz

 

Yes Ziggy, the seller he has recently had the estate agent out, as he is selling his second house as well, so i suppose i will have to wait and see what happens. He's not a nice person either, so that doesn't help the matter.

However, i don't want to make an offer and find out it is more than what he would ask for it - bit of a dilemma really.

Kristen, making a profit won't be hard - he bought the garden 30 years ago at a minimal amount.

Thank you for your help - i'll get there in the end, but i'm not letting anybody else have it! Although i don't want to be ripped off either! :gaagh:

 

Not nice eh ?

It would be a real shame if someone had sneaked in & planted little bits of asbestos on the land just before a surveyor came round then.

Wouldn't want a report of contaminated land being drawn up.:fingerdrum:

 

Yes, you are totally right and I am thinking very carefully about it. It has only taking me 3 years to get this far with it! It will give me storage space, more car parking and plenty of room to grow my veg & flowers - i am very keen, but funds are limited so that will determine the outcome!

 

Start at a tenner, just to test the water.

 

If funds are limited, you may not be too keen on getting a professional valuation from the likes of a chartered surveyor, but that would seem to be the option to give you an accurate ball park figure for the land.

 

Hi Pixie, if you can see the plot from your house/garden, why not get an estate agent round to value it for you, it will give you and idea what to offer.

 

Yes, an estate agent might be a good idea, i'm not sure what the seller would say about it though. He's not a nice guy! We live in a small hamlet of 6 cottages, so we all know eachother and we all keep out of his way! I'll think about how to approach this.

Thank you everyone lots of things to think about -
Ziggy not sure i could risk a £10.00 offer, i'd probably be dicing with death!:D

 

Don't know if this is of any help Pixie,

Land for Sale in Northumberland - Land Investment

Don't forget you can view and print the plot from gooogle earth or similar, to show someone for a valuation.