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LincsBlue
Posts: 4 Newbie
The dental practice next door to me is interested in buyimg my house in prder to expand his business.
Should I be thinking of my house value or do I consider what it is potentially worth to his business??
He has no propert the other side of him to make an offer to.
Should I be thinking of my house value or do I consider what it is potentially worth to his business??
He has no propert the other side of him to make an offer to.
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Comments
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You can ask as much as you want.
Doesn't mean he's going to pay it... He may simply decide to move his business elsewhere instead.0 -
He's doing well where he is, good location with parking on busy main road. Opens weekends and late in to evening, he's keen on me getting a valuation, which will take in to account the property needs some modernisation including kitchen up date, same for bathroom and a new combi boiler...this would be important if I were selling to a new family imo. However, as he wants to add 2 new dental chairs and extend his waiting room, as opposed to live here, doeas this matter as much??0
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He's what the valuers would call a "special purchaser" i.e. your house has particular value to him, whereas other buyers could buy one round the corner. Might be worthwhile getting a RICS surveyor to advise you on a suitable figure.0
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It’s only worth what he’s willing to pay.
If it’s a couple hundred thousand, it would make much more sense for him to just move to a different location that’s fancy, modern and ready to go.
You need to take into account that if he plans go knock through etc that could be significant building work and not just the ££ cost, but the hassle factor.0 -
Both. Plus did you want to move or has this prompted it? If the latter then you need to consider your time and costs of moving and if you want to move at all.Should I be thinking of my house value or do I consider what it is potentially worth to his business??
If you weren't planning to move and he has no other option then I would expect to get a figure more than usual domestic market value. He many not agree of course!0 -
You probably need specialist advice from someone who could assess the cost and desirability of the dentist's other options. It's not necessarily the case that a more modern or differently located property would be more desirable.0
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There's almost certainly no suitable "fancy, modern and ready to go" premises on the market (particularly if the dentist wants to stay in the same catchment area as their existing patients/staff), and it would still leave him with the hassle of disposing of the current premises.If it’s a couple hundred thousand, it would make much more sense for him to just move to a different location that’s fancy, modern and ready to go.
You need to take into account that if he plans go knock through etc that could be significant building work and not just the ££ cost, but the hassle factor.0 -
I would ask for
Full house value
All legal costs for selling and buying a new property
Moving costs
Mortgage costs
And at least £10k for hassle involved.
This is the minimum I would ask for more as a starting point.When using the housing forum please use the sticky threads for valuable information.0 -
Do you want to sell?
bearing in mind you need to find somewhere else to live you need to factor in the idea of moving when it wasn't really something you had considered.
have you had any discussion with the dentist to see if you are both approaching this on the same basis..ie your expectations are similar>in S 38 T 2 F 50
out S 36 T 9 F 24 FF 4
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It is not just your property you have to look at what he has already and around you.
What sort of property is next door?
Is this another residential conversion?
if they moved who would be buying that?
Would it have to go back to previous use would it cost a lot to convert to to other uses.....
Also what's on the other side of you, once he has yours is there another one that would give future expansion, that is worth something to yours.
What is the planing situation.
There are going to be lots of things that effect timescales.
There is a risk that you agree to sell and then there are delays and it is month while you are in limbo
At the end of the day you need to find a price that you are both happy with.
what you hope is that the bottom price you will accept is lower than the price he is prepared to pay.
Then you find a price in the middle and both go away happy.
The hard part is knowing where the middle is as his top price will be unknown.
You need to research what this may be worth to him
Have you checked the business accounts?
https://beta.companieshouse.gov.uk/0
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