Buying access to the rear
Discussion
TA14 said:
So you can own two titles outright but if you want to combine them or buy a single title you have to take out a mortgage? Hmmm.
huh? I think that is a stretch. I said in original post if mortgage was applicable. Obviously if they don't have a mortgage then no you don't have to take one!ozzuk said:
TA14 said:
So you can own two titles outright but if you want to combine them or buy a single title you have to take out a mortgage? Hmmm.
huh? I think that is a stretch. I said in original post if mortgage was applicable. Obviously if they don't have a mortgage then no you don't have to take one!ozzuk said:
waterwonder said:
I very much doubt it will be subject to a mortgage.
It will be if it is all on the same title...
Depends on house value and neighbour.
But I'd suggest an absolute minimum of £500 + legals for you and them which could easily be £700+
Assuming a house price circa £250k I'd suggest an maximum of £5k.
As suggested if the neighbour has a Mortgage it could complicate things massively.
I had neighbour A wanting to buy some of my and neighbour B's garden, I wanted £5k to make it worth the hassle.
Neighbour B dismissed any sale of his land without discussing price, he later built a large shed and didn't use the section of garden neighbour A wanted to buy (which was behind the shed). He is very tight and has very little disposable income.
The point being that the same amount of land, has wildly different values to different people.
But I'd suggest an absolute minimum of £500 + legals for you and them which could easily be £700+
Assuming a house price circa £250k I'd suggest an maximum of £5k.
As suggested if the neighbour has a Mortgage it could complicate things massively.
I had neighbour A wanting to buy some of my and neighbour B's garden, I wanted £5k to make it worth the hassle.
Neighbour B dismissed any sale of his land without discussing price, he later built a large shed and didn't use the section of garden neighbour A wanted to buy (which was behind the shed). He is very tight and has very little disposable income.
The point being that the same amount of land, has wildly different values to different people.
The other thing to remember is that #2 will no doubt want you to agree to contribute a "fair and reasonable" percentage of the costs of the ongoing repair maintenance renewal and replacement of the access way (which I presume you won't have an issue with). I'd offer this outright to the sellers at #2 so that this goes in the Deed of Easement and will ensure that they don't have any issues when selling their house.
I had a similar issue when I bought my previous house. Access to the rear of the property belonged solely to next door but it was used by both properties. Because it had been used, without dispute from the neighbour (they were unaware the access was just for them) for a certain amount of time my property had a legal right of way on the access.
I forget the time scale now, I want to say 25 years, but I can't be certain of this.
It cost bugger all too to get it written up legally, just a small delay on the purchase of the house.
I forget the time scale now, I want to say 25 years, but I can't be certain of this.
It cost bugger all too to get it written up legally, just a small delay on the purchase of the house.
ColinM50 said:
Disastrous said:
cranford10 said:
Best thread title ever
Yup. My disappointment is palpable.
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