What is the value of my land!

Thrugelmir

johnie_the_joiner wrote: »

Trying to put a value to it is very tricky.I don't want to sell it under its true value

What's acceptable to you between £5k and £20k.

Start higher and negotiate.

Adding a 1/3 acre to a garden makes it far more desirable.

johnie_the_joiner

Short update. Had another valuation done by a company who specializes in land sales. They suggest a value of between £10,00-£15,000. So £4000 is no where near a realistic offer. Going back to the chap

Davesnave

Usually, agricultural land can't just be assimilated into a garden legally without getting a change of use. However, if there is no one likely to see or care about it being absorbed, then that may be a detail. That was certainly the case with my acre of garden that was once 30' long! I'm currently returning some of it to agriculture.

Access is all part of the land's value, so if you don't have it and can't achieve an easement, it's worth a lot less. Others can value the plot at whatever they like, but your market is extremely limited and the market ultimately decides the price. You still have the power to deny a sale, however.

I sold some land last year to neighbours. They had a survey and valuation done without my knowledge, presenting this to me as if it was the word of God. I just laughed, because nowhere in its many pages was there any reference to the amount it would add to their property value. I told them the amount they offered was far too low. They were only to reopen negotiations if they could seriously improve on it.

About 6 months later they did, adding another 50% to the original offer.

If, like me, you can afford to wait, play hardball.

johnie_the_joiner

I've waited 10 years. A few more months wont make much difference to me.

tommyp

agricultural land is approx £8k an acre for arable land (depending on quality), if it has access to main road via a track/road or is fronted onto a road, value significantly increases. speak to a land agent if you are unsure.

johnie_the_joiner

Brief update. Offer has increased to £5000. We have politely declined.Im in no rush to sell,and I think he wants this land more than he's letting on. So we have decided to take Davesnaves advise and wait for a better offer.

Davesnave

johnie_the_joiner wrote: »

Brief update. Offer has increased to £5000. We have politely declined.Im in no rush to sell,and I think he wants this land more than he's letting on. So we have decided to take Davesnaves advise and wait for a better offer.

Your only problem is that you have one buyer, whereas I had four. I'm sure if any of mine had dropped out another would have filled the void!

However, your buyer isn't really acknowledging that adding 1/3 acre to their garden is going to have a significant impact on the saleability and value of their house, assuming their existing garden isn't already massive.

My buyers doubled the size of their gardens, so they did OK.

Strapped

How do you currently access the land? Over the potential purchaser's property? By foot or vehicle?

ValHaller

OK, there is no access. Is there potential for access? Does the neighbour making the offer have a potential for development access?

If he does, I would suggest that between you, you sell you land and his access as a potential development opportunity