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Small Land Purchase?

Discussion in 'General Discussion' started by Over Clocker, 2 May 2006.

  1. Over Clocker

    Man of Honour

    Joined: 17 Oct 2002

    Posts: 9,702

    Location: Retired Don

    Hi guys,

    We are considering approaching our neighbour regarding purchasing some of their land to that we can park our car around the back of our house. This would also mean sharing the access to the driveway.

    [​IMG]

    The blue area is our current land plot, and the red area is the bit we would like to purchase. This would still leave them with parking for two cars.

    Anyway, I am just wondering, what would be the correct process for all this? Also, we have NO idea about land values and what we should offer, so any ballpark figure just so that we have an idea what we are talking about would be great!! The area for pricing would be just larger than a normal car to allow opening doors etc etc.

    Cheers for any help or advise on this guys!

    Mal :)
     
  2. bradbcam

    Gangster

    Joined: 27 Mar 2006

    Posts: 144

    oooh we know where you live :)

    I'd suggest that you just approach the neighbours informally first. That way you may save yourself time and possibly money checking up on the other values and hiring valuers.
    For all you know they could be planning on doing something with the land themselves.
     
  3. Oblivious

    PermaBanned

    Joined: 25 Oct 2003

    Posts: 4,028

    Location: East Midlands

    Norbets the expert :p
     
  4. Over Clocker

    Man of Honour

    Joined: 17 Oct 2002

    Posts: 9,702

    Location: Retired Don

    Aye was thinking might just pop over and chat to them to see what the possibilities are!!

    Mal
     
  5. Snash

    Mobster

    Joined: 18 Oct 2002

    Posts: 4,062

    Location: In the air with the balls

    Just call them up and have a chat about what you're intentions are. If they are receptive to your idea then you can ask about price. The best way to value this would probably be on the basis of two car parking spaces - do you know of any sales of car spaces in the neighbourhood? Also, would it be possible for them to sell the two spaces on the open market to someone else?

    You might find they will also look for a bit on top because you will be a special purchaser i.e. it's worth more to you as a neighbouring owner than anyone else. Will there be any disadvantage to them having to share an access with you if you bought the land?

    Be prepared to offer to pay their legal fees as well - shouldn't be much but make the gesture straightaway to show that any money you pay them for the land will be net of their costs.

    Good luck!

    Snash