Doctor Drivel wrote:

"Lobster" wrote in message
...
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

What is the value of the house inc land? As the land is approx 2/3 of
the value of the house take this figure. Then measure the square
footage of the land. What ever the footage is of the strip to sold that
is the price you charge.



I think it needs to be thought about the other way round - increase in
value to the buyer's home. Especially if access is improved, off road
parking and so on.

Rob