Shared drying green value

conorcook

Hi! 

I’m looking to buy my neighbours out of a shared drying green, it’s just over 100 square metres and we all own 1 third of the land. 

This is on the east coast of Scotland, the land doesn’t have any development potential. 

I’m just wondering if anyone could give me a rough idea of the value? I know we will (annoyingly) have to pay for a valuation but it would be good to have a rough idea. 

Thanks 

EDIT - 

Both neighbours have their own private gardens and are happy / very willing to sell as it’s less upkeep for them and the land needs a fair bit of work as it’s all over grown with weeds and the drying poles need replaced. 

Grizebeck

Ask the valuer 

user1977

I expect equivalent to whatever difference 100 square metres of garden would make to the price of nearby properties - probably not much, and I wouldn't expect anybody to be able to give you a very certain answer.

NameUnavailable

Whatever the 'market value' of the land is, the other neighbours can ask what they want for it, as you want to buy and they may not be too bothered about selling. If the value was, say, £3K, would they be willing to lose the facility for £1K? I think I would want a premium for the loss of the facility and thinking ahead, the potential impact on value and saleability of the property.

propertyrental

How badly do you want it? If very badly, the value goes up.

How badly does the neighbour want to sell? How badly do they need cash? That can push the value down.

There is no 'market value', at least not until you and your neighbour agree a price. Then that becomes the market value.

conorcook

Both neighbours have their own private gardens and are happy / very willing to sell as it’s less upkeep for them and the land needs a fair bit of work as it’s all over grown with weeds and the drying poles need replaced. 

propertyrental

conorcook said:

Both neighbours have their own private gardens and are happy / very willing to sell as it’s less upkeep for them and the land needs a fair bit of work as it’s all over grown with weeds and the drying poles need replaced. 

then you might be able to buy it for a snitch!

Do you and/or the neighbours have mortgages? Lenders' consent will be needed.

user1977

conorcook said:

Both neighbours have their own private gardens and are happy / very willing to sell as it’s less upkeep for them and the land needs a fair bit of work as it’s all over grown with weeds and the drying poles need replaced. 

But so far nobody has suggested anything about what the price ought to be?

conorcook

user1977 said:

conorcook said:

Both neighbours have their own private gardens and are happy / very willing to sell as it’s less upkeep for them and the land needs a fair bit of work as it’s all over grown with weeds and the drying poles need replaced. 

But so far nobody has suggested anything about what the price ought to be?

One neighbour is elderly and is happy for me to make an offer as she can’t manage to help with the upkeep and is more than happy to shift it, the other neighbour is about to sell their property and has offered me first refusal of their share before the house goes on sale.This Is the neighbour that wants shepherds to value the land. 

conorcook

propertyrental said:

conorcook said:

Both neighbours have their own private gardens and are happy / very willing to sell as it’s less upkeep for them and the land needs a fair bit of work as it’s all over grown with weeds and the drying poles need replaced. 

then you might be able to buy it for a snitch!

Do you and/or the neighbours have mortgages? Lenders' consent will be needed.

I believe I’m the only one with a mortgage. 

user1977

conorcook said:

user1977 said:

conorcook said:

Both neighbours have their own private gardens and are happy / very willing to sell as it’s less upkeep for them and the land needs a fair bit of work as it’s all over grown with weeds and the drying poles need replaced. 

But so far nobody has suggested anything about what the price ought to be?

This Is the neighbour that wants shepherds to value the land. 

(for the benefit of non-Scottish readers, I should explain that Shepherd's are a firm of chartered surveyors, we don't drag farmers off the hills to do property valuations)

Have you thought about who's paying for the valuation? Or the legal costs?