Buying land by tenure

[slambid]

Has anyone got experience of buying grazing land by tenure? I don't want to stupidly over pay but at the same time I don't want to miss out for one or two grand. Googling value of land gives me a range of 6k-50k per acre so thats useless. Any ideas where to start?

 

[TheMule]

I bought land by tender. It is important to try to get a feel for popularity of land in the local area from the agent (remembering they want to get the maximum money but also have to tell the truth), lots of research of what land has sold for nearby/ what other bits are on for.
I paid just a fraction over 10k per acre for mine which is pretty standard around here. Mine is better land than standard but is crossed by a footpath which brings the value down. It isnt near to a farm (so unlikely people will buy to tag onto their own plots) and has very limited hope value (so no ridiculous prices due to future house building)

 

[slambid]

Thank you. Unfortunately the agent is less than helpful. All he's said is lots of people are looking and lots have made offers but not enough. He won't even give me a hit as to if they are over or under bidding and as its rare to find anything thats not ex mining land around here its next to impossible to find a comparison. I doubt it would sell as development land as planning has been turned down for some big developments in the area but I'd imagine planning for one house would be fairly easy as there is current building next door so thats going to put value up but then why give a price thats not even close to expected value. They don't make it easy.

 

[minesadouble]

If you really want the land in question then I would tender every penny you can afford. Its not something you are ever going to regret buying.

 

[slambid]

That is true. Id hoped to keep some reserve for fencing surface gate way etc. I just wish there was a way to get a ball park figure.

 

[Goldenstar]

Speak to a local land agent .
Think about who else will it suit the people it will suit the more it will cost .
Often small parcels make more per acre than larger one .
It depends on location for amenity type parcels than can be used for horses 10k per acre is pretty normal for a good field it could higher or lower .
How much do you want it of its perfect for you should push as far as you can .
A local land agent will know the market in your area .