Selling land

carthorse

carthorse

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We had our stables and land valued today but selling land just doesn't seem straight forward. The idea is we sell our land 7 acres and two houses and buy a large house with land .We have found a house we are interested in but the estate agent thinks it is best to go to auction to sell.Has anyone done this it seems very strange to me as you don't know what you would get even with reserve.
Has anyone sold land with stables and manage and who would you use.
Please give advise as we don't want to sell stables and have nowhere for horses as land is so difficult to buy near us
 
Rather than auction you could sell by informal tender... its quite common for properties like yours. Basically it means you put a guide price on the property and a deadline. Interested parties can then put offers in (in writing) at whatever price they are prepared to pay up until the deadline. They have to provide proof they can finance the purchase along with their offer. Once the deadline is up you decide which purchaser to go with... if you're lucky someone will have offered way over the price guide to make sure they are the winners.
 
From experience (we're looking to buy) land fetches a lot more money at auction. I suppose people get hyped up or something
tongue.gif
 
Often seen parcels of land for horses being sold via auction and have to say they all seem to make damned good money that way. Obviously you have no guarantee your reserve will be met but if you do accept a bid contracts are deemed as being exchanged when the hammer falls and usual terms are for completion within 28 days so you have a pretty solid timescale to work with.
 
Any land around by me usually goes to auction - and goes for an absolute fortune! None of it can be built on - but people buy it for stock etc.
 
Same here.. lots of parcels of land are constantly up for auction and always seem to go for way above the guide, especially ones with stables, menage etc. Have you got mains water and elec ? as i hear that can make a big difference to. Good plan by the way to sell up and buy one big place!
 
We bought 5 acres a few years ago by private sale. The seller then put the adjoining 3.25 acres on the market the next year for £30,000 but had no takers - he had a couple of interested parties but both dropped out when the locals advised them how much it flooded (designated flood plain). We did consider making him a lower offer as it adjoined our land but decided there is a limit as to how much one can put into the black hole of equine expenditure. The field went to auction last year with a guide price of £50,000 - it made £74,500 - that's for 3.25 acres of floodland. By sheer chance we were speaking to the new owners last night and they said they had only gone to the auction to watch but became carried away with the proceedings. They have no immediate purpose for the land but hope that at some stage in the future they can obtain PP for 2 dwellings - tried to explain nicely that their ideas of chicken farm, car boot site or Asian wedding marquee may not go down too well with the locals !!!

My vote would therefore be auction but make sure that it was well advertised. Is it possible to break the land up into 2 lots as "pony paddocks" are at a premium in this area (Leics).

Good Luck & Happy Househunting.
 
also - don't take the valuation as fact - valuers tend to not know what sort of price to put on places

I had mine valued for insurance by two different equestrian e.agents and the figures were wildly different - and even funnier was that I'd already had someone offer me 150k over the top valuation

so if you do sell - put your price high - you can always drop a price but much harder to put it up
 
Thanks, we have been disappointed by the valuation. It is a brilliant piece of land with 7 acres/ 7 stables and a manage .It is within hacking distance of a show every week [3 riding clubs] and pony club every week.It is the quietest lane around and the most beautiful for wildlife.They just valued it at agricultural price which it isn't. If we can't get what we think it is worth then we can't move but we are lucky to have it 1 mile from present house.It is a shame but think we might just put it up for sale with rural scene for what we can afford to accept and see how it goes, thought the land would be the easiest to get the correct price there is nothing like it near us for sale.
Thank you for your advise everyone will think again as can't take any chances we would never find anywhere similar again
 
I would NOT use the agency you have just named - try and find a more local one that can sell the area you are in and knows it well - look in back of H&H for other ideas

A friend looked at some properties marketed by RS.............
 
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