Selling part of your garden.

[Alex H]

EA?

 

[jay clock]

Hi All,
We are hopefully buying a new house very soon, which has a decent size garden (bigger than what we currently have which is quite big) and our EA lives the other side of it. All of her road have very small back gardens and she has asked if we would sell some of ours to her.
We don't need to sell, but are wondering if there is a standard price for selling off some of your garden, or is it just a case of 'how much do they want it'?

Thanks in advance
Bev

what is an EA?

 

[Skibird]

EA?

Estate Agent

 

[Archie_tect]

You've bought an unrenovated house from the family of the old lady to do up, two doors up from the house you've just done up? Are you going to move as soon as you've done the new one up? if you are then it could impact a lot on the value of the new house if you've split the garden compared to the others in the street.

But it would be a generous thing to do for your estate agent- rather than value the land as a square meterage, or you could get his house and your house valued with and without the extra garden and offset that as that's the size of the loss you'd make losing it.

The alternative is to get the family selling your new house to reduce the price of the house before you buy it without the garden and the estate agent can offset his fees from the family by the value of the garden land against the sale of the house. EA gets the garden without having to lay out the money with reduced fees, you buy the house for less money... and the family don't lose out as they get cheaper EA fees.

A Win-Win if ever I've heard one!

 

[Skibird]

You've bought an unrenovated house from the family of the old lady to do up, two doors up from the house you've just done up? Are you going to move as soon as you've done the new one up? if you are then it could impact a lot on the value of the new house if you've split the garden compared to the others in the street.

But it would be a generous thing to do for your estate agent- rather than value the land as a square meterage, or you could get her house and your house valued with and without the extra garden and offset that as that's the size of the loss you'd make losing it.

The alternative is to get the family selling your new house to reduce the price of the house before you buy it without the garden and the estate agent can offset her fees from the family by the value of the garden land against the sale of the house. She gets her garden without having to lay out the money with reduced fees, you buy the house for less money... and the family don't lose out as they get cheaper EA fees.

A Win-Win if ever I've heard one!

We will probably stay there. We love the road and it's one of the most sought after in the village. We are only really moving because hubby wants another project, rather than to continue to do work for our neighbours, as they just keep asking (he has a list of people waiting for him in to next year and is currently doing next door's extension).

The stamp duty holiday, low infections rates and continued house price rises here, make it the perfect time to move, plus we have been able to get the new house without the involvement of an EA (he got it valued then gave us first refusal) as we knew the executor (the owners son).

We are only considering selling some of the back garden as it's bigger than our current house. We will have a smaller front garden, as the house next door is further forward and the one we are buying, even more further forward, but still big enough to get two cars in the drive so not an issue for us. We are not going to tell the sellers we are considering selling some of the garden, just in case they start seeing £ signs and do something to delay the sale.

 

[Archie_tect]

With the close relationship between EA and executor they've probably already talked it all through. Sounds a little bit dodgy with all the back-room shenanigans, but if that's how the executor and EA are going about it then fair enough. The EA is doing the executor a massive favour so I wouldn't be so sure it isn't being done without some benefit to the EA somewhere... which makes me wonder why the executor and EA aren't just transferring the garden before the sale by offsetting/ waiving the EA's fees...

 

[Skibird]

With the close relationship between EA and executor they've probably already talked it all through. Sounds a little bit dodgy with all the back-room shenanigans, but if that's how the executor and EA are going about it then fair enough. The EA is doing the executor a massive favour so I wouldn't be so sure it isn't being done without some benefit to the EA somewhere... which makes me wonder why the executor and EA aren't just transferring the garden before the sale by offsetting/ waiving the EA's fees...

The executor didn't use our EA to get it valued (ours is a small very local EA), he used 3 others that we actually saw ourselves, our EA wasn't even aware that it was going to come on the market until we told her (she was a little put out she wasn't asked to value it). If we sell some to her, it will have come from her 'jokingly' telling us that if we got it, would we sell some of the garden to her. The executor is not using any EA, although ours will now keep him updated on how things are progressing.

 

[Archie_tect]

Ah, sorry- misunderstood with the references to EAs- thought they were the same person! It did seem a bit cosy the way I'd read it!

Good luck with it- I'd be tempted not to sell as the money you get for the land won't gain interest as much as the value of the land will.

 

[Skibird]

Ah, sorry- misunderstood with the references to EAs- thought they were the same person! It did seem a bit cosy the way I'd read it!

Good luck with it- I'd be tempted not to sell as the money you get for the land won't gain interest as much as the value of the land will.

Lol, no probs. Tbh, unless she makes it worth our while we won't sell as it's not for the money. Either way she will benefit, as she will get the trees she hates so much removed by us.