Selling a small portion of garden to nextdoor that does not have a garden

DerekMeels

Hi there

I am looking for advice re selling a small portion of our garden to our next-door neighbour. At the moment the house next door does not have any back garden at all (or front garden) and their kitchen window is currently located 'in' our garden. We have considered selling them a triangular patch measuring approx 10' wide at the house end, with 15' sides going into a point. It's small, but big enough to give them a courtyard garden with table and chairs etc. The property is one bedroomwd and is located 1/2 mile from the town centre, the garden also has the benefit of being south facing. I don't believe doing this will lose any value on our property as the area we would sell is a bit of lost space, but I am assuming it will add quite a bit of value and desirability to the house that would be gaining a garden, albeit a small one.

Any ideas on value for the 'land' and also for the legal costs please?

I_have_spoken

I don't believe doing this will lose any value on our property

Hmm, not so sure. Having folks sitting out smoking, BBQ smells, radio on, boozing until after dark in what used to be your garden doesn't sound too clever.

Yorkie1

Practically speaking, get the details of how much value it will add to the other property.

Bear in mind that if you have a mortgage on your property, you'll need to get the lender's consent first.

BabyBoots

It's hard to say, without knowing if you're in London or somewhere rural for example!

The maximum they would pay for it should be the amount it increases the value of their property by - perhaps 10%?

As you live next door, consider also the possibility that the current or future neighbour might decide to increase the floor space of their one bed property, e.g. by putting a conservatory on the newly acquired garden. A surveyor/land agent would probably give you a value for about £100. You and your neighbour might each like to instruct a surveyor, so you're happy it's been done in your own interests.

jacko74

The legal costs will be far more than the value of the land. Assuming this is the neighbours idea and they've approached you wanting to do it I'd be getting them to pay all legal costs involved (theirs and yours)

ging84

who's idea is this?
if they have approached you then the value could be somewhere close to the amount of value it would add to their property. if it is your idea to make some money, then the value would be very much lower

DRP

BabyBoots wrote: »

It's hard to say, without knowing if you're in London or somewhere rural for example!

The maximum they would pay for it should be the amount it increases the value of their property by - perhaps 10%?

As you live next door, consider also the possibility that the current or future neighbour might decide to increase the floor space of their one bed property, e.g. by putting a conservatory on the newly acquired garden. A surveyor/land agent would probably give you a value for about £100. You and your neighbour might each like to instruct a surveyor, so you're happy it's been done in your own interests.

I don't know much about the legalities involved except that a part of our garden has a separate title at the land registry for a piece that was bought about 20 years ago from a neighgbour. It has a charge on the title register stating:

(c) Not to build or erect or permit to be built or erected on the property hereby conveyed or on any part thereof any building or buildings (except garden sheds or greenhouses)

Something similar may offer protection against the sold-off land being used for a conservatory for example...

DaftyDuck

My sum would be:

(Price increase in their property) + (price drop in yours) + (they pay all legal bills)

The legal bill would also have to include covenants that they wouldn't build on the area in question (see DRP above), wouldn't use it for X, Y, Z (whatever you would hate).

I'd imagine the cost to them would be several thousand pounds. Might be at least 10% of their property value. a "no garden" to "small garden" is a fantastic price increase on a house, maybe 20% for a small one.

CLAPTON

depending upon where the property is I would say something between 10,000 and 1 million

the value of the land has nothing to do with anything without considering its situation and value to the individuals concerned.

Annie1960

If your neighbours are asking you to sell them this land, it is known as a 'ransom strip'. You can charge them whatever they are willing to pay (depending on how badly they want it). I would also expect them to pay all legal costs.

If you are the party wanting to sell, then it's a different matter, and the price is likely to be much lower.

SailorSam

I don't think i'd be wanting to sell, it would always be on my mind that when i come to move any buyer i find is probably going to want a bigger garden.