Buying land from a neighbour to extend our garden - pricing??

[gingertoo]

Our neighbour has a large garden behind ours which they cannot manage. We would like more garden.
We have spoken to them about buying some of their garden to extend ours and they are very keen.(it is landlocked and not suitable for building on)
Only problem is, they have said 'make us an offer' and we have no idea where to start!
We know how much we have to spend but other than that I've no idea..

So, does anyone know how I can come up with a reasonable offer price for this piece of land? Where can I go for advice?
And what about the transaction? Do I need an estate agent? Solicitor? Surveyor?

I know someone who did this.
they paid ten thousand for a decent sized chunk. not sure in terms of fraction of an acre, but decent sized for their 3 young kids to run around in.

a solicitor drew up the title. No others involved

Ask an estate agent for 2 values for your house, with and wthout the extra land

Thanks hambler Ten thousand sounds reasonable - would be brilliant if we could get it for that!!

Good idea Podrick. Would an estate agent charge us for that?
I suppose you would then make sure that you didn't pay more for the land than it would add to the value of our property..

We bought some land from our neigbours last year and it was relatively simple.

One thing you may need ot check is with planning dept; make sure the land is registered as recreational, not agricultural or anyhting else.

Other than that it was simply the solicitors and land registry.

Thanks littlerach - will do.

I'm SO excited about this! I really hope it works out...

You could ask an estate agent (or three) round for a free valuation , saying you are considering selling in a few months and have the chance to buy a chunk of next door neighbour's garden and could they give an estimate of value with and without the extra land. I don't think that is too deceptive because when you do eventually sell you will have formed an opinion of different agents depending on what they say.

Lots of people get their houses valued by estate agents just out of interest with no immediate plans to sell.

Incidentally I thought ten thousand was a bit steep . The seller of that bit of land is notoriously a bit hard nosed about money.

Thanks for that hambler. I've phoned a couple of agents this morning.