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Extending a site, to solve a problem.

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    #32
    MrMusician18
    Registered Users Posts: 7,246 ✭✭✭MrMusician18


    Bass Reeves wrote: »
    You will buy very little marginal land for sub 5k/ acre, Forrestry which admittedly is virtually closed at present puts a 4-5k base on most land.

    Anyway agri value is immaterial when valuing small plots

    I got a few small fields of marginal at 3k an acre not that long ago.

    Anyway, as the seller here is not selling, for all we know the owner might have a huge attachment to this parcel, may want to keep it as natural habitat, whatever and no price will be high enough.

    Cheapest option here would be to tell the farmer you're fixing the boundary and would like to clear back and keep back with his permission, the overgrowth. Really depends on your relationship with the owner, as he might fear an adverse possession case at some point if he lets that.


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    #33
    listermint
    Registered Users Posts: 33,696 ✭✭✭✭listermint


    Wouldn't a good strimmer with a teethed head and a nice conversation with the owner not sort all of this out. Maybe clean up every few years or so


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    #34
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Dunedin wrote: »
    That’s €7.5 an acre for ground that’s growing briars and no road frontage. Seems a lot. I’d be thinking €1 or €1.5k Would fees be €2k????

    Just had an update today on my own attempted purchase. Solicitors alone, over €2k.


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    #35
    Good loser
    Registered Users Posts: 3,181 ✭✭✭Good loser


    Deleted User wrote: »
    Just had an update today on my own attempted purchase. Solicitors alone, over €2k.

    Price another solicitor.


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    #36
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Good loser wrote: »
    Price another solicitor.

    Not my choice unfortunately as the seller want's me to pay their legal costs. My own solicitor is quite reasonable, as he says himself the other solicitors price, considering the small area of land, is "fairly spicy".


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    #37
    Bass Reeves
    Registered Users Posts: 18,202 ✭✭✭✭Bass Reeves


    [Deleted User] wrote: »
    Not my choice unfortunately as the seller want's me to pay their legal costs. My own solicitor is quite reasonable, as he says himself the other solicitors price, considering the small area of land, is "fairly spicy".

    I had that situation with banks they use there own solicitors and you pay. There solicitors then charge 2-3 k.

    About 16 years ago I moving lenders for the farm loan and relaxing equity to pay off a brother who lend me some of the money. The bank agreed that solicitors costs would be 1100 euro. When signing the final documents as it was equity release my own solicitors said that the banks solicitors had send his bill 1100+ sundries+ vat. I explained that the agreement was 1100 euro. My own solicitor asked explained that the vat and sundries were outside norm costs.

    I explained to him that if I asked plumber to.price the plumbing of a house he could not come back and add vat to the bill or sundries for accountant fees.

    I said the banks solicitor could take the 1100 euro or he could bill the bank and I argue my case with the bank. He took the 1100 euro.

    Solicitors are the biggest shower of vultures out there. Now the size of a transfer is immaterial if it's all one transaction on one folio. It immaterial whether it a piece of ground costing 10 million or 1k the paper work is the same except you need to make sure that all the T and I are dotted and crossed . In the 10 million one you expect the solicitor to double check everything and mane pay a bit of a premium. However most transaction should cost no more than 1k+ vat

    Slava Ukrainii



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    #38
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    This piece of land isn't something I will walk away from or foul up over a grand or two tbh. If it were just any parcel of land, then I'd certainly argue the case. Over the long term, as this is a strategic move, the increase in price will be slight.


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    #39
    JeffKenna
    Registered Users Posts: 4,518 ✭✭✭JeffKenna


    I'd say you're looking at €20k to get the ball rolling. Not sure why people are even quoting the price of agricultural land here, you want land to add onto your house. That's adding onto a site so it'd be the price of a site I'd be quoting.


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    #40
    bogman_bass
    Registered Users Posts: 5,057 ✭✭✭bogman_bass


    To put it in context I had a similar situation with a neighbour and charged him 6k for about a 1/3 acre and he fenced it.
    I was of the opinion (and still am) that I was doing him a massive favour at that price.


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    #41
    Bass Reeves
    Registered Users Posts: 18,202 ✭✭✭✭Bass Reeves


    bogman_bass wrote: »
    To put it in context I had a similar situation with a neighbour and charged him 6k for about a 1/3 acre and he fenced it.
    I was of the opinion (and still am) that I was doing him a massive favour at that price.

    You were more than fair with him

    Slava Ukrainii



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    #42
    Good loser
    Registered Users Posts: 3,181 ✭✭✭Good loser


    JeffKenna wrote: »
    I'd say you're looking at €20k to get the ball rolling. Not sure why people are even quoting the price of agricultural land here, you want land to add onto your house. That's adding onto a site so it'd be the price of a site I'd be quoting.

    The thing is the 'site potential' has already been realised in the initial purchase i.e. the premium over agrl value has already being paid.
    An add-on to that site, especially if it goes around all three sides ( and neglected, presumably low value land) should be priced at agrl prices. Say plus a premium for small areas involved. Fair would be agrl value plus 50% plus all expenses incl vendors CGT.


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