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ferg
19-Aug-14, 22:07
Evening everyone, I'm considering offering to buy out a family member in some jointly owned land however I can't find any information on how to value it. Is it a job for a solicitor to value or is there a rough guide for the going rate for farm land in the county?

cheers,

ferg
Foxy
20-Aug-14, 01:08
Contact the auctioneer at Caithness livestock centre on 01955621363 and he will be able to value it for you. Hope that helps :)
mi16
20-Aug-14, 10:45
Surely it is an estate agent you need to provide a valuation.An auctioneer will only have an idea of what it is likely to make at auction.
sids
20-Aug-14, 12:09
Surely it is an estate agent you need to provide a valuation.

Really?

What are their qualifications?
Rangers1
20-Aug-14, 12:35
That's what an estate agent does for a living.

They would have the experience and knowledge of what things are worth and they would be able to advise you on a guide price.
mi16
20-Aug-14, 12:40
What are an auctioneers?A HNC in taking phantom bids?I should add that I am not suggesting the auctioneer detailed above uses such practices
Kevin Milkins
20-Aug-14, 14:05
My simple method of valuation for land (depending on quality) is £1000 pound an acre if your buying and £5000 pound an acre if your selling.;)

In reality, only guidelines can be used and the true value is only what someone is prepared to pay, but a view of prices of land sold recently in your area would be a good rule of thumb and its more likely to be an estate agent can furnish you with that information.

Good luck with your purchase.
budgeJ
20-Aug-14, 14:43
Evening everyone, I'm considering offering to buy out a family member in some jointly owned land however I can't find any information on how to value it. Is it a job for a solicitor to value or is there a rough guide for the going rate for farm land in the county?

cheers,

ferg

Simple, just contact Bidwells......http://www.bidwells.co.uk/scotlandhome
They are the main people for dealing with this.
sids
20-Aug-14, 18:48
That's what an estate agent does for a living.

They would have the experience and knowledge of what things are worth and they would be able to advise you on a guide price.

I'm prepared to believe they make a good living, but I wouldn't trust them.

I'd use a surveyor, experienced in local values, or even an agricultural valuer like what ANM provide through Quoybrae.

My only advice to Ferg is to remember that money's thicker than blood.
Foxy
23-Aug-14, 00:19
Surely it is an estate agent you need to provide a valuation.An auctioneer will only have an idea of what it is likely to make at auction.

Auctioneers know about land values it's part of there job, but if i'm wrong i'm sure i'll be corrected!
DMFB
23-Aug-14, 11:00
Contact the auctioneer at Caithness livestock centre on 01955621363 and he will be able to value it for you. Hope that helps :)
Good advice


Auctioneers know about land values it's part of there job, but if i'm wrong i'm sure i'll be corrected!
no correction needed as far as I am aware


Surely it is an estate agent you need to provide a valuation.An auctioneer will only have an idea of what it is likely to make at auction.
the estate agent can give an evaluation I would assume however they are more familiar with dealing with houses etc.

It appears that it is indeed the auctioneer who is best placed to advise on this issue. My son in law has just begun this process and it was advised to him to approach the auctioneers for advice on prices. They were very informative very knowledgeable and the price that has been stated on this forum in the region of One thousand Pound an acre was indeed similar to what he was advised for crofted ground of medium quality, poor quality a few hundred less and top quality a few hundred more.
Its down to the age old saying though its the sellers land so the seller states how much he wants its whether they can come to an agreement on this is the question.