Selling part of the garden (What's involved?)

spagfrag

Selling the end part of my garden in two sections to two neighbours.

Hello,
I hope someone can help, I'm looking for some advice on exactly what and who is involved with the sale of a piece if garden from start to finish. Sadly I'm completely clueless, I don't have any experience in this matter. The nearest thing that is similar would be the sale of my previous house. But with that the only people i had to deal with was my estate agent, i used their solicitor too. I found it relatively problem free.
Has someone sold part their garden before and knows what happens? Who contacts who? Who pays the fees? Do all three pay seperate conveyancer fees?
Thanks

Cakeguts

Do you have a mortgage? Is the property freehold?

spagfrag

The property is feeehold and there's no morgage

Davesnave

You just need a solicitor and maybe someone to draw up an acceptable plan of the plot, though I did my own and it was accepted. In most cases of this type the purchaser pays all the legal fees.

Be aware that you may be selling more than you think if the land would raise the value of the other houses significantly, or the loss of it devalues yours. In my case, there was enough land for it not to matter to me, but my 4 buyers disputed that it should be priced higher than 'garden land.' I disagreed.

The fact that they eventually paid me 2.5 times their original offer suggests I was right about the uplift value to the purchasers. However, it took well over a year till they understood that I was willing to walk away, for years if necessary, as in cases like this there are often no alternative buyers.

eddddy

If you're interested in getting the highest price (or even the fairest price), you could ask the opinion of a valuer or an 'appropriate' EA.

You might also want to think about uplift clauses or covenants.

For example, covenants to prevent building on the land. And/or a covenant (or simple contract) to construct and maintain fences on the new boundaries.

A solicitor that's experience in this area should be able to advise on that kind of stuff.

ProDave

What are they buying the land for? Make sure the value you sell for is correct with regard to what the extra land gives them. If you are worried about them building on it,. include an uplift clause.

G_M

who is involved with the sale of a piece if garden from start to finish.

Solicitor - maybe. Unless you do the conveyancing yourself.

Surveyor - maybe. Unless you draw up the plans ypurself.

Estate agent - unless you find a buyer yourself.

Land Registry - required to register the change to the remaining property you keep, and to register the new owner of the land sold (or register the merging of the land sold to another existing Title.)

HMRC- perhaps. To receive SDLT on the purchase. And/or to receive CapitalGains Tax is appropriate.