Landlocked property

Statex2_2

A further development is that as we have not proceeded with the purchase, the owner has passed his cousins details via the agent. Something he said he would not consider. I have just  spoken to the owner of the land and she asked why I wished to purchase the land I said that to assure our access in the future and for agricultural use. She claims there has never been and that there never will be an access issue and also stated she had discussed this with the owner of the house. She would say that.Anyone can and  change that at anytime.

She asked me how much I thought it was worth. I replied that it was only of agricultural value but she said she wants the value that it would add to the house and she would not sell it for agricultural value.  Other than agricultural value how do you value that? She has already tried to obtain planning permission and was flatly refused. The parish council and neighbours are against any building in that area as it is outside of the development envelope.  Therefore as any future planning permission is doubtful how would you value it. What value does 2 acres add to a house in addition to the agricultural value.  The value of similar houses in the area is very low in comparison to those nearer the coast ot towns. The price we have agreed for the house is above others in the area. Should the price of the land be far in excess of agricultural value, the combined price of both would be in excess of similar properties that have been sold in the area.

I think the best option is to walk away. although I have accrued legal costs which I will have to write off as experience.

GDB2222

Statex2_2 said:

A further development is that as we have not proceeded with the purchase, the owner has passed his cousins details via the agent. Something he said he would not consider. I have just  spoken to the owner of the land and she asked why I wished to purchase the land I said that to assure our access in the future and for agricultural use. She claims there has never been and that there never will be an access issue and also stated she had discussed this with the owner of the house. She would say that.Anyone can and  change that at anytime.

She asked me how much I thought it was worth. I replied that it was only of agricultural value but she said she wants the value that it would add to the house and she would not sell it for agricultural value.  Other than agricultural value how do you value that? She has already tried to obtain planning permission and was flatly refused. The parish council and neighbours are against any building in that area as it is outside of the development envelope.  Therefore as any future planning permission is doubtful how would you value it. What value does 2 acres add to a house in addition to the agricultural value.  The value of similar houses in the area is very low in comparison to those nearer the coast ot towns. The price we have agreed for the house is above others in the area. Should the price of the land be far in excess of agricultural value, the combined price of both would be in excess of similar properties that have been sold in the area.

I think the best option is to walk away. although I have accrued legal costs which I will have to write off as experience.

I think I would persevere.

I don't know the property, but some people would pay quite a bit to have a couple of acres right next to the house that they can keep a horse on.

Other people would just regard it as a liability.  Apart from keeping a horse, it's a pretty useless patch of land. It's too small to farm, etc. 

Why don't you ask the cousin whether she's prepared to formalise the access to the house, without you buying the land, as otherwise you are regretfully going to have to walk away from the purchase? 

Alternatively,  you would be happy to pay agricultural value now for the land plus an uplift later if the land is used for housing at any time over the next 10 years, say? 

sheramber

How much would you be prepared to pay for the house  with the land?

Basically, she can name her price as she is not pursuing the sale of the land. You are the one wanting to buy it.

MysteryMe

To paraphrase a saying, when a potential new neighbour shows you who they are, believe them.

Your "neighbour" is already showing themselves to be unreasonable by trying to sell agricultural land at a premium.

I know you said you had spent some time looking OP and it is annoying to lose money on fees. I hope you can find a home that fits your needs without having to deal with people, be it the vendor, the EA , neighbour etc who just seem to lack transparency or veracity

Myci85

Surely if you offered on the house before you knew of the access issue, it would be very reasonable to drop your offer to something inline with a property that as it stands is landlocked and unmortgageable. And offer for the land the difference to make it up to what you feel the property with no access issues and a bit of extra land is worth. The vendor may reject your lower offer, but I can't see them managing to sell any time soon for more with this issue unsorted.

Of course the issue then may be synchronising the two purchases as you wouldn't want to risk committing yourself to buy the house and the land purchase fall through, or vice versa.

ThisIsWeird

It's not just aggie land, tho', it's access to the property, and that definitely has a higher value. Not 'development' value, but a decent figure nonetheless.
And, it's not unreasonable for the land owner to benefit from this - that's perfectly fair - it's their land.
The question is, how much is it worth? No idea. But I'd have thought Statex must have a figure in mind, coupled with him being fully prepared to pull out if it becomes silly.
Its value to Statex, and anyone and any other buyer, is the difference between what they are currently offering for the house, and what the same house is worth with access and a bit of extra land I suspect that figure is not entirely straightforward, since the house is unusual, and not really comparable with other houses in the 'hood.
But, I'm also pretty sure that Statex 'knows' its value, at least to him. Statex knows how desirable and rare/unique this house is, compared to others in the village.
So, make it a good figure, Statex, one that is properly tempting, but that you are also happy with. Put that to the landowner, and tell them to let you know. 
If they come back asking for more, then either say "sorry, not worth it", and pull out, or simply deduct the extra from your house offer to compensate; "This is what I believe the house and land/access is worth in total, certainly to me, and it doesn't really matter to me how that figure is split between the two parties. But, that figure is the total." Let these two parties juggle that conundrum between them. They should work out that what is taken by one hand has to be given by t'other.

Nebulous2

Do you need it all? How much of it would you need to secure an access route? 

The owner could sell you a portion and continue tilting at windmills for the rest of it. 

MysteryMe

It's a ransom strip.  

Herzlos

Nebulous2 said:

Do you need it all? How much of it would you need to secure an access route? 

The owner could sell you a portion and continue tilting at windmills for the rest of it. 

That's what I was thinking. The small strip you need for access is worth quite a lot (to you or the owner of the house), but the rest less so.

Will the cousin sell you the access road + a few feet either way? I'd be tempted to make an offer for just the road at a reasonable figure, and an offer for the rest of the land at agricultural rates.

What's on the land currently, is it empty?

ThisIsWeird

If the aggie land is plentiful, and isn't actually being used as aggie, and that's unlikely to change any time soon, see if you can get a reasonable surrounding plot all around your house at the same time as this access, so that you can 'isolate' yourself from whatever other use that land may be put in future. Or just from the neighbour...