NFU Mutual Smallholding Insurance

Author Topic: Value of land  (Read 5100 times)

hughesy

  • Joined Feb 2010
  • Anglesey
Re: Value of land
« Reply #15 on: May 31, 2016, 11:15:45 am »
An estate agent has a job to do which is to get the highest price he can for his vendor. The vendor wants the most money he can get. There's no greed involved it's just the way the market works. Even though we bought our land through an informal tender I have to say I don't like the process. You have no idea what others may have bid so you're open to any kind of fiddling behind the scenes. Having said that if you don't want to pay the price, don't bid it. When we bought ours the agent rand me on the day the tender closed to tell me that if we upped our bid a little bit the land would be ours! I told him politely to ****off and put the phone down thinking that was the end of it. Ten minutes later he rang back to say they'd accepted our bid! Clearly they were trying to screw a few more quid out of us but I'll never know if it was just the agent playing games or if the vendor had asked him to do it. With an informal tender there's no obligation for the vendor to accept any of the bids. I'd much prefer an auction.
Voss Electric Fence

mart6

  • Joined Sep 2014
  • Notts / Yorkshire border
Re: Value of land
« Reply #16 on: May 31, 2016, 02:57:14 pm »
Problem with something like this is they rarely come up at affordable price in the area you want.
And if someone has been looking for a long time its a case of what its worth to them not the valuation.
With that and residential possibilities imo it seemed quite cheap in the end.
Keep looking and i hope you find someing, hindsight my be in your favor next time

I have been after more land near me and it rarely comes up and when it does people want a premium imo
I have had a adverts on web sites for 2 years and no joy.


Baldeagle

  • Joined May 2016
Re: Value of land
« Reply #17 on: June 02, 2016, 06:43:04 pm »
Thanks for all the comments and replies. I will keep looking and hopefully something will turn up. I've had my first experience with informal tenders and I'm not that keen! Much prefer either a set price or an auction where at least you know what and who you're up against. Thanks all.

Roxy

  • Joined May 2009
  • Peak District
    • festivalcarriages.co.uk
Re: Value of land
« Reply #18 on: June 06, 2016, 11:04:57 am »
I have been in the buying land position.  Last lot of land was sealed bids, which I hate.  At least auction you know what you are up against. we did not even have a guide price..  To help.  Only reason we git it, was we bid  at both lots, whereas horsey people only bud at one paddock

What you bid at would attract a lot of interest......all after the same thing. which does not cone up very often.  Some one will now get planning for a house on that land, making its value even higher.
Paddock near us, 2.5 acres went for £14,000 per acre.
I have a 1.5 acre paddock and if I get outline planning on it, a builder will happily have a static on it, and give me £,150,00.
Keep looking, and good luck.  We got very down, as we missed out numerous times when buying extra land and its not easy. 

 

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