Land Value

Hello all
My first post here so appologies if this isnt relevant to the section.
A neighbour ownes a bit of land at the end of may garden and he has informed me that he is interested in selling it as the tennants he lets the house to do not maintain it properly. He has said that he does not know what its worth and has asked me to come forward with an offer. Whilst I would like to buy it for as little as possible I would also like to make an offer not an insult and remain on good terms.
Here are the details:
Area: East Bristol Suburb in South Gloucestershire House: 3 Bed Semi, Band C, 1920s Front garden: 9m long driveway with ajacent drive to rear garden Rear garden: 26m long, approx 150 sq meters Street: Allways privately owned, row of 12 houses
The land available is approx 300 sq meters, triangular shaped, 2 sheds, slightly undermaintained, has planning permission refused in the past due access issues, all the gardens that back onto it are atleaste as big as mine, can probably only be used for a garden.
Does anybody have any ideas as to what I should be offering?
Thanks in advance
--
Wurzel

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On Fri, 1 Apr 2011 22:50:25 +0000, Wurzel

So small a landlocked piece that can't be built upon isn't worth much if anything, can't hunt on it or use it as a wood lot... offer to pay the legal/transfer fees to adjoin it to your property, a case of fine booze for good will, and tender $1 to seal the deal and make it just, and you'd both be doing each other a good deed, perhaps. Do some research as to what it would cost to sever it from the neighbor's property and to join it with yours, might need a couple of new surveys plus whatever town filing fees, etc... may not even be worth your trouble. Be sure to check for any encumberances, liens, back taxes, free title. Be very wary about someone wanting to part with what is on the surface an asset, it may well turn out a liability. Around here small landlocked parcels are typically offered as a gift to the owner of an adjoining property, and often they are rejected if just for the increased taxes stemming from reassessment. You may think you want it but think carefully about if you really need it... you may do much better investing in a small parcel elsewhere, maybe a piece of agri land out of the city that isn't landlocked. Personally I'd not want a piece of land that causes me an adjoinment with a dozen more neighbors, couldn't pay me to take it.
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Thanks for the advice. Interesting point regarding the checks.
--
Wurzel


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