My property is in SA. The owner of property to the rear of my mine offered to sell a part of his block. He has a large block that is with a strip at the rear that's cannot reasonably be used for anything, and would suit my block better if it was boundary was moved. He offered to sell me that part of the block. I'm considering putting in an offer, as it is to my benefit somewhat, but not hugely - my block is sufficiently big and has landscaping. Still, we should be able to make a deal that's of mutual benefit How should I go about this? What are the steps I need to take, and are there any extra fees I should be aware of? Also, any advice in pricing my offer? I am considering going off a UCV/sqm basis, but starting at a point less than that, as not every sqm is worth the same and the utility of these sqm's are relatively worthless to the neighbour.
Check the town plan. Does the extra m2 allow more development potential for you? Cost of fencing. Otherwise it may not be worth much. Will likely require surveyors fees, town planners fees, application to Council for reconfiguring a lot.
Welcome @mayonnaise What would you do with the extra land ? Is there potential future development potential due to the extra land ? What value do you think it will add to your property ? Will they go half in tbe cost of the fence relocation ? What is the cost of a boundary adjustment in SA ? Local sqm value less a discount and make an offer, or just ask how much they hope to get. Good luck
Thanks for the tips! As my land is already big enough to be subdivided if I want to, the extra land doesn't enable anything. It's a nice to have and gives me a bigger backyard, but I would have re-landscape it. In the future if I subdivide, or extend the house towards the back the extra sqm will be of more benefit. I haven't talked to the council yet. I'll find out the associated costs. Also, I'd like to find out how much the UCV of their block drops as a result of the boundary change. That could be a relevant figure for negotiation and I may be able to find that out from the council. The rear fence has to be replaced anyway - this came up in a conversation where we are going to split the fence costs
You may find that the value of the land is less than the cost to change the boundary so even if the land was free it may not be worth it. All a numbers game.
I did this in SA, sold my back to a neigbour and was a win/win. The deal was based on an offer that was mutually acceptable to both, and was managed via conveyancer and a surveyor. Easy peasy Japanesey. I then sold the front and had not lost any value whatsoever.
