What's it worth, 200m Road?

[Greythundercloudys]

Talked about this before but now it's happening, l own the road end to my neighbours farm, changed hands last year, so it's the road end and in about 200 yards with a n area of rough ground maybe an acre around it. So what price, l was thinking 5grand and he pays the lawyer, but really haven't a clue, any ideas.

 

[Wombat]

Is it the only access?

 

[Adeptandy]

Land on its own is making £8-10k an acre, surely access point would be double ?

 

[Greythundercloudys]

It is, but obviously they have used the roads for along time, it was my dad's cousins that was in it before and just left and left but a new young man in it now but don't want to be asking a crazy price but must be worth a wee bit at the same time.

 

[cattleman123]

Talked about this before but now it's happening, l own the road end to my neighbours farm, changed hands last year, so it's the road end and in about 200 yards with a n area of rough ground maybe an acre around it. So what price, l was thinking 5grand and he pays the lawyer, but really haven't a clue, any ideas.

Well if the boot was on the other foot would he be soft possibly not...Start at 20 grand you can always come down to say 12500 he would then think he had a bargin...

 

[Pieces_of_Eight]

Get an agent to value it properly and cost the agent's fees into the sale.

 

[snarling bee]

Is it the only access to the property?
How big is the property?
Could be anything from 30% of the value of his property down to £10k I would say.

 

[CollCrofter]

I'm surprised he doesn't have access rights on the deeds already??

 

[Greythundercloudys]

I'm not going to stop him using the road end but want it sorted out,

 

[Barleycorn]

Don't forget with the Stokes and Cambridge rule you can claim half the value if he gets some development and you are the only access. I would keep it, but get a legal document drawn up that he can use it but has no rights to it.

 

[Bob the beef]

As above. You can only sell it once, and then you have absolutely no control over who can use it or what happens in the future. If you don’t need the money sit tight and get a legal deed drawn up.

 

[Doing it for the kids]

We need more detail.

access is worth huge sums. As above, has it got development potential?

where in the world are you?

i think you are selling yourself short.

 

[gone up the hill]

At least 50k + your costs for AG and one house only with it clear what they can use the access for in the transfer, ie farm use fine but a new housing estate would be no for example, also make it clear in the transfer the width of the road and that they are 100% liable for its upkeep etc but you can use it as you want for anything.

If they don't agree to that then walk away!

 

[Sid]

Talked about this before but now it's happening, l own the road end to my neighbours farm, changed hands last year, so it's the road end and in about 200 yards with a n area of rough ground maybe an acre around it. So what price, l was thinking 5grand and he pays the lawyer, but really haven't a clue, any ideas.

I own a track to neighbours field. Nothing written down, he just uses it. Would I charge him 50k, i wouldn't charge him 5k.

 

[bobajob]

There is probably a value on it, but I would have an agreement where if either of you left your farm x amount should be paid to you and leave it at that.

Good neighbours and neighbour relationships are worth there weight in gold and this might leave a sour taste, you can’t put a price on someone helping you out/ someone to call on in a crisis and even for a chin wag and a coffee.

What does the new man say, is he expecting to pay out for this?,

 

[toquark]

As a point of reference, last year I sold a similar piece of very rough bare land, c0.5ac to a neighbour to allow him to create a separate access to a holiday cabin he’d built on his own ground. He approached me looking to buy and I asked him what he was prepared to pay, his opening offer was £18k. I won’t say the figure we settled on but suffice to say it went upwards from there. He also covered all my costs.

 

[averageguy54]

I'm with Barleycorn and bobthebeef on this one. Keep it but get a legal document outlining the details of the road including width and repair and maintenance. It should also outline what type of right of way he has in order to access his property. For example, he has the use for accessing his property unlimited but there is to be no parking on the road by visitors. They must park in his yard. Property development will need to be addressed in advance of any work. Work the wording out between you so both are satisfied, get it drawn up and then there's no arguement down the road.

Once you sell it to him, you loose any say over future developments. While he may turn out to be a good neighbour, what will happen if he sells on. The next one mightn't be so good.

 

[Greythundercloudys]

It was made clear when he bought it that this was to be sorted and there was a fee involved.

 

[Dry Rot]

If they have been using the road from way back, he has probably acquired a right to continue the existing use. Get an agent!

 

[caveman]

You should get a copy of the man's deeds from the land registry first, to find out just what he has already. If you've not had to have dealings with the registry during the sale and transfer, you may well be surprised.