Wording of property valuation

Tyring to agree the way property should be valued (number of options: to sell as whole, in parts or split rather than sell) and stbx has come back with the following to be given as valuation criteria for pasture land owned ajacent the property:

That the field be valued with a view to further planning being granted on the part of the land adjacent to the two current building plots and abbutting the road, and also with the potential planning development of the field. It is understood that this is something that has been previously considered but no planning applications have been proceeded with. You are asked to consider possible planning based on UDP and the land generally and provide a valuation of the field on this basis.

He has also provided details of previous planning applications (which were taken forward contrary to the statement above) but which were withdrawn due to the number of objections and on advice of County planners - but he has not explained this clearly for the valuer.

My understanding is that the valuation should be, for the purposes of division of property ''the estimated amount for which an asset should exchange on the date of the valuation between a willing buyer and a willing seller in an arms length transaction after proper marketing .......''. The first part of the proposed statement in italics is asking the valuer to assume that further planning will be granted which would not, I think, meet the criteria. The second part of the statement (in italics) is I think more acceptable as the valuer should, due to local considerations, actually take this into account.

Certainly the land might be worth a little more if the valuers consider it has future planning potential (and reference to the UDP would indeed give some indication IF this might be the case - and this of course is up to the valuer(s) and their view and local knowlege) but feel the statement is leading and not particularly clear anyway.

If the land were valued on the basis that some ''future planning'' would be granted, if we do end up in Court am I also right to believe that the Court would only consider a value based on the current value, with no consideration to possible future development profit other than that of, in this case, in the honest opinion of the valuer, agricultural land which might/or might not get planning permission sometime in the next - millenium......

I do hope this makes sense. Would very much appreciate input on this as I intend to propose new wording. Took nearly 6 months to get this far so need to tread carefully - dont have a further 6 months of my life to waste in limbo. Many thanks

You could put forward figures for all sorts of scenarios but the court will consider what it is worth as you describe with a willing seller and willing buyer.

To take it to the extreme you could produce a valuation if gold reserves were found under the land and permission to mine it was granted but a court isn''t going to be interested.

Thank you, can live in hope of gold reserves at a later date then .................