Advice on buying neighbours garden

swifty199

Hi Looking for advice on buying part of my neighbors garden which backs onto my garden boundary, the extra land is land locked with no vehicle access possible plus it has Tree Preservation Order's on all of the trees on the land so future use is very limited. Its use is purley as garden only, any body have an idea of what the current square meter garden land costs in the Durham area.



Any advice welcome.

babyblade41

What does the owner want for it? probably would be a better starting point

swifty199

My neighbor does not have a clue, they have suggested a surveyor does a valuation which will cost £180.



I wondered if there was an average square meter value used by the surveyor?

middleclassbutpoor

Just go back to them and tell them some random person of money saving expert knows a guy who knows a guy who lives near Durham - (like Middlesbrough close to Durham) and he would work off £5 per square meter. Thats the cost to the person selling it as the upkeep on those trees wont be cheap....

Alternatively, pay £180 so no ill feeling of the cost and you both know that you paid market value for it. .

DigForVictory

How old is your neighbour & how much longer are you wanting to stay friendly?

Stump up for the pro, get it all documented, and get it solid at the Land Registry so there is no bickering later when whomever sells first has to prove who has which bit.

This may come back to bite you when your assets are being scrutinised for care home fees, but hey - a nice garden til then is worth it.

swifty199

My neighbour is trying to sell the house with no luck after nearly two years on the market, the couple have split up so the remaining neighbour in the house is in need of cash to try and keep things afloat.

Thrugelmir

swifty199 wrote: »

My neighbor does not have a clue, they have suggested a surveyor does a valuation which will cost £180.

Seems a sensible compromise. As the valuer will be independent. The additional land may well add value to your property. Greater than the cost of the land.

G_M

How badly do you want this land? If the neighbour asked for £1000 would you happily pay that? How about £5000? £10K? etc

How badly does the eighboure want to sell? Need money? Would the hassle and loss of garden be outweighed in his mind if he got £1000? How about £5000? £10K? etc

How much would the value of your property increase if it had a bigger garden?

How much would the value of his property decrease if it had a smaller garden?

Has the eighbour got a mortgage? Would the lender agree to the sale?

End of the day, the garden is worth whatever the two of you agree It has zero value to anyone else.........

eddddy

Typically, a valuer would start by calculating the 'marriage value' of the land...

In this case the marriage value would be the following changes as a result of the sale:

[Increase in value of your property] - [decrease in value of neighbours property]

If you want to be completely fair, you would take 50% of the marriage value each.

So the price you would pay is:

([Increase in value of your property] - [decrease in value of neighbours property])/2

(But I doubt that you are doing this for pure business reasons.)

somethingcorporate

Just agree a figure you are both happy with. We have something similar with the neighbours at the back of our house. A landlocked bit of their garden that is nothing but work. We offered more than a fair price given their required upkeep but they weren't interested (right now).