On Tue, 14 Jul 2009 19:40:55 +0100, Lobster wrote:

Bit OT but I'm sure within this group's expertise...

My parents have recently been approached by their next-door neighbour who
wishes to buy a strip off the end of my parent's garden, presumably with a
view to gaining rear access to their property.

My parents just *might* be interested in doing this. One of several
questions raised, though, is how would you put a valuation on this bit of
land? From memory, my guess is that the land would be of no particular use
to anybody else; ie not large enough to build a separate property on. So
I really it's a case of how badly does this guy want the land, and how
much my parents would miss it versus how much they'd like the cash
realised... but where on earth do you start in terms of coming up with a
figure for something like this? My parents (and I) literally don't know
whether 100, 1000, or 100,000 GBP would be the sort of expected value. Is
it something an impartial professional can advise on? Or is it simply a
case of my parents coming up with a figure they could live with, and the
neighbour liking it or lumping it?

Thanks
David

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I've no idea of how to set a price but if you do go ahead with a sale
consider applying a restrictive covenant to ensure that the land can never
be used to create a nuisance such as a pig sty, dog run or even a scrap
yard. A solicitor will advise, at a price.

Cic.

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