Trying to sell a Land...

[christopher]

Hello,
There is a patch of pastureland for sale, near our house- just less than one acre. It has no planning permission and is not likely to get in the next 10 years.

There is a 50% Uplift clause against any future development and the owner is reserving the access across it to the rest of his land.

I am sorely tempted to put in an offer; it is going to informal tender 2nd week in September with no guide price at all.

I know the answer is 'it's worth what you are willing to pay for it' but I just don't know what figure to put on it and was wondering what you guys thought.
Thanks
Christopher

 

[clayton]

Hi Christopher,
How near your garden is it? Could it form part of your garden in years to come?

I would be concerned with the farmer's access. Could you have raging bulls racing through? Is there a possibility that the farmer could ever sell off his land to a developer and your land would be turned into an access road? Check that there are no maintenance obligations on this piece of land. Is it liable to flood neighboring areas, does it need a heavy investment in fencing?

If you do buy, check who is responsible for maintaining boundaries.
Thank you
Clayton

 

[vngrape]

Since you already own a place in the area, you may already have an idea about the price of the property. You could estimate it based on your percieved value but you might want to consult and have it appraised. That way, you would be very sure on where you really stand.