Nice people thread part 3- Nice as pie

Doozergirl

Davesnave wrote: »

I was wondering if anyone would say that. The agent thinks it would only be worth leafleting the immediate area and putting it up on Rightmove etc as most benefit would likely accrue to those nearby.

He is envisaging a sealed bids situation, where those who want it could put in bids for part or all of it. Me, I'm not so sure. An auction would perhaps prevent two of the parties working together to buy it (making the plot more affordable) but an auction is possibly the best way to reach the correct value.

There again, I'm not sure that an investor would think it a decent proposition. It's secure and has very little maintenance requirements, but what would be the point?

I'm with your agent. And silvercar.

I don't think auction is the way to go. I was going to say ditch the agent - you pay them primarily to find you a buyer and your buyers are on the doorstep. It's money for old rope.

I would have suggested a letter to each potential house, give them your telephone number if they want to chat about it, but invite formal offers either for all, or part, by a certain date. You also might want to encourage different sorts of offers - ie. as part of a syndicate but also just a bit for themselves etc. Then see what you get. Hopefully the agent has given you an idea of value but this sort of thing isn't set - it really is a case of what people think it's worth.

I dislike the auction idea. It's expensive and your market is so limited that I really don't see the point. You don't want speculators even trying for PP and that is your risk with auction. You've seen HUTH and the idiots that will buy anything. I think you need to review what people ask for and work out which is more lucrative to you. It might be that splitting it into smaller plots is the way to go. If you're lucky enough to have multiple bids, you can encourage bidding - that's where the agent would be useful. I'm just worried how much they will charge for something of not very high value.

Hopefully the agent has given you an idea of value but this sort of thing isn't set - it really is a case of what people think it's worth.

It should be a relatively simple case of transfer, I'd ask a solicitor for minimal help and see how much of it you can administrate yourselves.

Masomnia

My boss to me today: 'Please don't try to undermine the strike tomorrow, we are striking for a good cause.'

Me? Undermine the unions? Never!

lostinrates

Masomnia wrote: »

My boss to me today: 'Please don't try to undermine the strike tomorrow, we are striking for a good cause.'

Me? Undermine the unions? Never!

there's a strike tomorrow?

silvercar

Starting point is how much value would it add to the houses that can extend their garden, if that gives them the opportunity to extend their house then even more £££. You may find that one or two of the nearby owners are also interested in buying the plot behind theirs and the one behind their immediate neighbour - either to make a larger L-shape garden or because of the potential to sell to a neighbour at a later date.

Ask for indications of interest by a set date, that way you can see what parcels of land have attracted interest and what haven't. In your situation it may be that one strip remains unsold but a neighbour may buy their own strip for say £10k but will consider paying £12k for theirs and their neighbours. You don't really want to be left with a piece of land that you can't access.

Davesnave

Thanks Doozer. I agree that the most serious buyers are going to be on the doorstep.

Agent thinks £20k isn't out of the way, bearing in mind that 2 family-friendly houses would be able to dispense with taking bikes etc right through the house, and the area is very bike-orientated due to flat, parkland ride into the centre of town from there. Bearing in mind it's a young professionals' area too, with one or two home offices in gardens, it would seem ideal for that too.

Agent would do all the admin for £1k.

chewmylegoff

auction

if you put it up for auction, what's to stop the 'syndicate' bidding as a joint bidder in the auction? can't see anything that would stop them.

tomterm8

chewmylegoff wrote: »

if you put it up for auction, what's to stop the 'syndicate' bidding as a joint bidder in the auction? can't see anything that would stop them.

What's to stop them if you don't?

Masomnia

lostinrates wrote: »

there's a strike tomorrow?

I work for a university, and yes there is. I do give away far too much info on this site!

It's sickening really. A lot of students will have their final exams tomorrow and there's a good chance they'll be disrupted because of it.

silvercar

Did the buyers of the main house positively not want this land? Or was this a price negotiating tactic?

silvercar

Masomnia wrote: »

I work for a university, and yes there is. I do give away far too much info on this site!

It's sickening really. A lot of students will have their final exams tomorrow and there's a good chance they'll be disrupted because of it.

Just checked, my son doesn't have another exam til next week, I trust the strike will be over by then?

Sounds like a ploy to get another long weekend or a day off in half term week, but maybe I am cynical.

What happens if there is an exam scheduled? Does it get pushed back to next week or do the strikers never supervise it. If it was just pushed back, the strikers would have the same workload.