Buying part of neighbor's land

Hi all,

Just wondering if anyone can help me out regarding the costs involved to buy a portion of a neighbour's property?

We have an L shaped block and are thinking of buying some of the neighbor's land to make our block a rectangle (and put on a large duplex or 2 freestanding homes). We have no idea of the costs involved, other than the land cost to the neighbors. We're in the Sutherland Shire. Not sure if it would end up being prohibitively costly.

Thanks!

 

Have you checked that the neighbour is actually prepared to sell you the land?
Marg

 

Ask to buy it but dont be surprised if they want an extortiant amount for it

 

Whats currently on the land? Ie if their house is on that part they won't be able to sell it to you anyway.

If it's garden area that looks like it hasn't been used for a while, you can approach the subject as trading it in so they can spend the proceeds on a nice new kitchen or something.

 

I'm looking at something similar myself.

As you said, you know what the neighbour wants, so we can assume the land is clear enough and the neighbours are willing.

I haven't talked to any professionals yet but I am taking a guess I'll need a survey on both parcels, a solicitor on both sides. I don't know if the council ask for much more than a modest fee to update records.

So I'm hoping I can get away for it for $5k or less, plus the compensation for the neighbour.