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Original poster

Compromise or not?

26 replies

luvvaduck · 10/09/2021 18:16

My house comes with a 4-metre strip of extra land at the end of my garden that runs behind my neighbour's garden. It means that my garden has direct access to the road behind. I currently have a fence running along the road with gates and I park my camper van there.

My NDN has several times tried to buy this strip: he wants to create a workshop or garage. He hasn't offered me enough money to make the eyesore worthwhile.

I had the property valued (3 agents) about 9 weeks ago. There was a £10k difference between the lowest and high valuation. My NDN saw one of them looking around and asked me to name my price, so I went for the highest valuation and he agreed. He's going to use family money and a BTL loan to buy it, do it up, transfer the extra land to his property and then either continue to rent or sell, apparently.

I've made it clear to him that the house is as it is: it does need a bit of work but he can add value to it by doing it up and his big gain will be the value of the extra land. He has had a survey done and nothing was said.

We are supposed to be exchanging in 10 days. No chain: we have somewhere to rent until we find the right place for our next home. He has now come back and offered 10% lower than the agreed price and is talking vaguely about there being a lot more work to be done than he expected and the survey showing up potential damp issues yada, yada, yada and his lenders won't lend him all he needs.

My DH is a person who hates hassle and is inclined to offer a 5% reduction just to get it all over and done with quickly. I've been looking at prices and they seem to have gone up again in the last month. I think it we put it on the open market now it would be at 10k+ more than the previous valuations.

I want to turn NDN down flat. He has a strong vested interest in getting hold of the land. I'm even thinking that it might be worthwhile saying to him that actually, the price has gone up £10k.

Could more experienced buyers/ sellers offer me some advice?

OP posts:
Original poster
luvvaduck · 10/09/2021 18:21

I just realise how greedy I sound and honestly, I'm not. Over the years the NDN has hassled and cajoled and tried to play us for fools and generally tried to get the land for far less than its value. I knew when he made his offer that he'd mess us around and it's made me much more determined not to be walked all over than I would normally.

I forgot to say that we have no estate agents involved, either. NDN made his offer before we'd signed any contracts.

OP posts:
Willdoitlater · 10/09/2021 18:26

I don’t have any advice, but wanted to say it is not at all greedy to want to get the best possible price for a house. Why on earth shouldn't you get the best price? OTOH avoiding hassle is also valuable.

DespairingHomeowner · 10/09/2021 18:34

Turn him down flat - you have not even gone to market yet to see if there is any interest!

Have you incurred any costs yet, ie is your rental deposit paid?

He is either chancing his arm or has not got the money. Your advantage is less hassle & no EA fees... but would you be paying 10K in EA fees?

FurierTransform · 10/09/2021 18:35

Sounds like you are in a very strong position, just decline his offer and say "sorry, at that price it's not worth us selling"

MimiSunshine · 10/09/2021 18:35

Don’t accept the lower offer. I bet he was always planning on doing this and banking on you being to invested in the sale / move.

Feign absolute indifference and just say ‘no problem, we’ll just put it on the market then. Sorry it didn’t work out for you!’

Then make sure you quickly get an agent round and ideally at a time you know the neighbour will see. Then you’ll no doubt see him move quickly to secure the sale

Minnie888 · 10/09/2021 18:36

I wouldn't cut off your nose to spite your face. Stand by your original figure but don't ask for more. It is greedy and won't end well. Imagine if everyone did that, if it had dropped 10% you'd feel very differently.

BreadInCaptivity · 10/09/2021 18:38

No I wouldn't compromise in these circumstances.

He's got a very vested interest in your property and realistically if he loses this opportunity to buy it, it could another decade or more before he gets the chance.

Also as a pp has rightly pointed out, your house hasn't been tested in the open market yet and could potentially go for more than he's offered (or not - it's a risk).

I'd simply say to him he needs to buy for the price agreed (what he can afford is really of little relevance to you) or you'll put your house on the market pronto.

ffsgivemestrength · 10/09/2021 18:40

I'd tell him it's going on the open market then. Unless he's a friend who who plan on seeing socially after you move, you gave nothing to lose by quite rightly expecting the best price for it.

Mamette · 10/09/2021 18:43

I wouldn’t go up but I would say, stick to the original agreed price or deal is off.

sskanky · 10/09/2021 18:46

I'd stick to your guns. If you go to open market he's unlikely to ever get the bit of land.

thetesdybears · 10/09/2021 19:00

Your going to rental so ur not reliant on the sale for another property right now. Tell them no it's the agreed price or it goes no in the market (that has subsequently gone up anyway).

Original poster
luvvaduck · 10/09/2021 19:10

Thank you, everyone. I think he's sussed over the years that we're not people who want trouble/ hassle and he's having one last go and it's working. We're talking about a £45k drop in price.

I suppose my fear is that the house does probably need £10-20k spending on it to sort out a few things and that we might end up here again in a few months' time with another buyer. But yes — if anyone has a vested interest in getting that land, it's him.

I think I was looking at around £4-6k estate agents fees — but because we didn't take that route I can't be sure. They would probably have negotiated.

We've been lucky: we have friends who have inherited a house and are allowing us to rent it till they work out what they want to do with it. If the sale is delayed the costs will be very manageable. I'd just hoped not to have to deal with estate agents. Sorry to those of you who are estate agents, but I've never been lucky enough to have a really good one.

OP posts:
BlueMongoose · 10/09/2021 20:29

No other house will be next door to his. So I'd hold out for the agreed price, or put it on the open market.

DespairingHomeowner · 10/09/2021 20:49

Every house needs 10-20k spending to sort things when you move - things like roof, boiler, new kitchen & the like are standard… new buyers will find the cash or live with it…

Refusal & getting an EA round will get him to show his hand - you are in a v strong position

OakPine · 10/09/2021 20:59

Don't give up access to the road. If there is sufficient space, and depending on where you are, the end of your garden could be a separate house plot. Potentially quite valuable.

Could you split it yourself and sell it separately as the house with smaller garden, plus building plot. Sell them both on the open market.

You owe your neighbour nothing. Don't sell to him for any sort of discount.

BreadInCaptivity · 10/09/2021 21:06

From what you've posted you're in the perfect position to stick with the original offer.

You simply need to go back to him and say having considered his request you will be sticking to the original terms if he wants to buy it.

If he no longer wishes to proceed you'll be putting the house on the market for £5k more than his offer to take account of house place inflation since his offer was accepted.

He'll have stick to his offer or potential lose the house to another buyer or pay more than he wanted.

People always say a house is worth what someone is willing to pay - but the reverse is also true. That a house is worth what the owner is willing to sell it for and your home is worth more to him than pretty much anybody else.

ElaineMarieBenes · 10/09/2021 21:47

I think your suggestion to up the price is reasonable in the circumstances! What a cheek by NDN! It’s a sellers market so get the EA back round as I suspect you are correct in thinking the valuation has gone up not down!

DespairingHomeowner · 10/09/2021 21:47

@OakPine

Don't give up access to the road. If there is sufficient space, and depending on where you are, the end of your garden could be a separate house plot. Potentially quite valuable.

Could you split it yourself and sell it separately as the house with smaller garden, plus building plot. Sell them both on the open market.

You owe your neighbour nothing. Don't sell to him for any sort of discount.

You may very well be able to get planning permission for an annexe/garden room/granny flat kind of thing … which could add huge value
notangelinajolie · 10/09/2021 21:54

I think you need to parcel up this piece of land with it's direct access to the road and get planning permission to build a house on it. Then sell it to the highest bidder on the open market.
This is exactly what your neighbour will do if you sell it to him.
Why would you give away this opportunity?

Candleabra · 10/09/2021 22:04

@notangelinajolie

I think you need to parcel up this piece of land with it's direct access to the road and get planning permission to build a house on it. Then sell it to the highest bidder on the open market. This is exactly what your neighbour will do if you sell it to him. Why would you give away this opportunity?
Absolutely. Cheeky bugger. He's playing you like a fiddle. You're basically giving away your land for free with all the reductions. Instead of focusing on the hassle now, think about how you'd feel in the future when you see your land sold at a hugely increased price with planning permission (or he builds something and makes a huge profit). Start looking at your house as a business where you need to realise the highest price. This is your money, you owe your neighbour nothing.
DespairingHomeowner · 10/09/2021 22:27

Well, OP says it’s 4m wide ie 13 foot, probably a v diminutive house …

Original poster
luvvaduck · 10/09/2021 22:48

Yes, it's not large enough for a building plot even if we were to give up a section of our garden. The previous owners tried. There are also plans to develop the road at the rear which might compromise access. And the LA has a blanket ban on garden developments. We did consult a planning expert before selling. I wouldn't be surprised if the NDN thinks he'll get PP, though.

I've emailed the solicitor to instruct him to say what a pity, looks as if we'll have to put it back on the market.

Thank you, everyone. We're both really bad at this game-playing lark.

OP posts:
BreadInCaptivity · 10/09/2021 23:11

I think that's the right call.

Good luck and let us know how you get on?

Saz12 · 11/09/2021 10:45

Your ndn is either trying it on or genuinely believes he’s overpaid or can’t get finance. It makes no difference to you which it is, though.

It’s impossible to know for sure what you’d sell for on the open market, but your house is unusually valuable to ndn alone, due to the strip of land. So he could well be offering top dollar based on what it’s worth to him.
Would it be worth separating title deeds to the strip if ground, and marketing as “for sake in whole or two parts”?

sunshinesupermum · 11/09/2021 10:51

He either pays what was originally offered or you remarket imo.

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