My neighbours want to buy part of our garden

Question

My neighbours want to buy part of my garden, can you please advise what service would be best to get the land valued and also what legal safeguards are there to stop them from building on the land?

Answer

The basic price your neighbours pay should be at least the greater of the reduction in value of your own property or the increase in value of your neighbor’s property. You can impose a restrictive covenant prohibiting building or you can include an ‘overage’ clause requiring anyone owing the land to pay you a percentage of the increase in value if planning permission were to be obtained to build on the land within a fixed period, say 25 years.

You should engage a Chartered Surveyor to advise on value and negotiate on your behalf but before doing so get an undertaking from your neighbours to reimburse you for the surveyor’s fee whether the sale goes ahead or not.

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