4 replies to this topic

[Lynne]

I've just got back from looking at some land being sold by informal tender, in Yorkshire, 15 minutes from East coast. The land is being sold as a whole or in two plots. Plot 1 is the slightly larger of the two & also has an inhabitable farmhouse (with full PP for new 4 bed house) and old outbuildings. Plot 2 is just slightly smaller land with two access gates. Third option being offered is to purchase as a "whole". I have to admit I have come back slightly disheartened as looking at the few other people who were there and hearing snippets of conversatons going off I think this will sell as a whole for "mega bucks".

I've never done this informal tender thing before but was wondering if any of you can give me a bit of advice. I am looking at the land only option, its 9.787 acres, it has a small entry gate onto the field but also has consent for a second 12ft entrance, its got quite a good road frontage. The land is Grade II. Any ideas as to what its worth, or what I am looking at price wise. The Agents are asking in excess of �200k as a whole so I'm struggling to try & work out what they would be looking at to sell as seperate plots. I don't want to go in too high but then again I don't want to be laughed at either. Any suggestions welcomed

Thanks

[surreydodger]

Hi Lynne,
This probably isn't what you want to hear but getting a value on the land in question as to what it is worth, can really only be gained by getting a land surveyor to vaule it for you,,, and that will cost you

The alternative is to find similar land for sale in the area (try primelocation.com or such like property websites for examples). I seem to remember 'Find a Property.com' had a section where you could look a recent sales in your chosen area, though I'm not sure if that just covered houses as opposed to land. Still, worth a look.

Next free trick, pop into one or two local estate agents (ones who deal with land) and ask if they can give you a rough idea what to pay for ten acres or so.

What you have to face is that buying a piece of land is worth what your are happy to pay for it. You may be paying over the odds to get what you want but if it is worth it to you, there is no substitute Gain a fair idea of local values and make a bid based on that and you won't go far wrong.

[Lynne]

Thanks for the advice, the problem here is there seems to be no real "price" per acre round where I'm looking. It seems to be one extreme to another, eg loooked at some land for sale two weeks ago, 9.5 acres, and they wanted in excess of �250k, greenbelt, no PP, no buildings on it week before that missed out on 7.2 acres which went for �39k. I will be popping to the local land agents though & see if they can give me some indication of what the paverage price per acre is. I know what you mean about what the price to yourself is though

[Lynne]

Just had a phone call from my solicitor & it looks like either the sale of my house will now fall through or we definitely won't complete in time for me to go for the land I've just been to look at. If anyone's interested and is in a position to "go for it" now (informal tender has to be in by Friday 16th April) I can give you the full details. It is between Hull & Withernsea, in a really nice rural area. Anyone who is in a position to move now and preferably would like to take the "whole" lot on, as I'm sure thats the way it will go as opposed to in two lots, it really would be a great buy & location. If you want to pm me I can give you the full details (would put them on here but not sure if I'm allowed).

Back to the wait & see drawing board for me though !

[Lynne]

My house sale has fallen through & I'm so fed up now. I had just found another piece of land which I was hoping to go for but now thats out of the question. I also have hundreds of of beet, veggie & salad bedding plants which I've grown from seed & know where to plant them now, no point in putting them in the garden if the house sells in the next couple of months.