Who values strip of land between neighbours?

Suffering Jbox

Hi, my neigbour wishes to buy a strip of land between our residential properties for better access. I would like to get it valued but don't know whether I should go with estate agent, auctioneer, valuer or surveyor (or what type of surveyor). Would really appreciate advice on this. Thanks.

Markcheese

To some extent, it's worth what someone is prepared to pay, a surveyor will tell you exactly how the size, but as to how much?, you could get 2 or 3 different valuers/auctioneers out to get an idea of ball park amount but still Agricultural land price,? Development land price,? How well do you know or like the guy, how much is the strip worth to him and how much is it worth to you.. 😀.. (sorry, not much help)

wexie

Rather than looking at what the strip of land is worth you might consider what your property would be worth without it?

ie. will it make a big difference to you (or a potential buyer?) in access, privacy etc. etc. etc.

Suffering Jbox

Yes, thanks, I'm interested in the affect on the value of my property if I were to sell so would like to know the most suitable profession to value it.

Stanford

Is it known who owns the strip?

Suffering Jbox

yes, it's mine.

Calahonda52

Suffering Jbox wrote: »

Hi, my neigbour wishes to buy a strip of land between our residential properties for better access. I would like to get it valued but don't know whether I should go with estate agent, auctioneer, valuer or surveyor (or what type of surveyor). Would really appreciate advice on this. Thanks.

I would proceed with caution here: in addition there with be lots of expensive paperwork and you will need consent from your lender if you have a loan secured on the house

Stanford

The value depends a great deal on the proposed use, is is suitable for access only, would it diminish the value of your property if you sold it, is it part of a larger Folio?

Suffering Jbox

Thanks for replies. Yes, it is mainly for greater access for neighbour. I probalby will not go ahead with it but would be interested to know who would be best to value you it in the context of the impact on value of my property.

Victor

Many estate agents are auctioneers and/or valuers - it is essentially all the one profession.

Buying a strip of land should not be valued like the normal sale of a larger plot - you need to add the cost of new boundaries , other works and your professional expenses.

You also need to consider things like percolation areas for septic tanks and any restrictions on access or planning permission.

mickdw

Suffering Jbox wrote: »

Thanks for replies. Yes, it is mainly for greater access for neighbour. I probalby will not go ahead with it but would be interested to know who would be best to value you it in the context of the impact on value of my property.

I think this is a case where your opinion will hold more value than that of a professional.
Think through the various issues. What if the neighbour was to build right up against his new boundary - would you wish you had not sold it. Or if they put an extra high fence - would it affect you?
By selling are you giving them room to build a shed that otherwise might be well away fromyou - Think dog barking at night etc.
You need to also consider where the outline of your site as granted planning permission is. You cannot sell a portion of the lands within the planning site layout as you would no longer be planning compliant.

Henry Ford III

Suffering Jbox wrote: »

yes, it's mine.

It's up to you to value it. How much would it take from the value of your property if you sold it?

Suffering Jbox

Thanks very much. Food for thought!