Forum menu
Next door neighbour is selling up and they've a price of garden at the end of their garden which belongs to us. They've asked to buy the garden off us but have no idea how much it would be valued at. How do I value it. They need an answer sharpish.
try and find out what the increase in value of their house will be with the extra garden. Ask for just shy of that.
Ask for what you want - its your garden and they want it. There doesn't have to be a rational valuation. WIll not giving it to them benefit you in other ways? Do you need the space or the cash more? Can they get planning to build on it if you give it to them - is it that big?
yes be wary if they can get planning one day [ probably put something in about that in the contract of sale though so you still profit] as that will massively increase it otherwise what added value they get - a % so they also profit from this say 25 % ish or therabouts
I suppose the other aspect is do you actually want the garden back ever and what value would it add to your house?
Rent it ?
Is it going to be used as just a garden or is there future potential to use the new bit as access to a building plot if they were to build a house on their garden (assuming its big enough!!). Your bit would be worth far more if that the case.
Get a RICS surveyor to value it. No argument then.
[img] 
[/img]
Think twice before selling, they might build on it and you'll be facing a house etc.
Eg end of our garden:
[url= http://farm9.staticflickr.com/8217/8303851973_2c6d61ee8f_z.jp g" target="_blank">
[url= http://www.flickr.com/photos/brf/8303851973/ ]Workshop.[/url] by [url= http://www.flickr.com/people/brf/ ]brf[/url], on Flickr
If you decide to sell put a restrictive covenant on that prevents anything being built on it.
Will need a solicitor to sort this but then you should consult one during the sale process in any event.
Cheers
Danny B
It depends on what they are going to do with it. The value of the houses involved and the possibility of planning permission. Before the housing dip, here in the crazy south east someone offered us £80K for the in-fill at the bottom of the garden.