Prior to land development valuations, an appraiser must verify the most effective use of the land. The land’s potential can enhance its value considerably, as investors are often on the lookout for land lots that can be used for commercial purposes. Vacant land may become residential lots, commercial properties, or agricultural centers.
To start the process, your appraiser will assess properties of a similar size or type that have sold in the local area within the past few months. For instance, if a property is marketed at $190,000 and yours boast similar attributes, it’s probable that your property can sell for a comparable amount.
Unique aspects of the property will be taken into consideration, in addition to any authorized zoning for any future business or residential development. Furthermore, if your land has potential to make money, such as an orchard or crop development, it will be worth more at time when crops are ready to be sold for profit.
Consequently, location is a very important factor in deciding the worth of your land. Comparable properties may sell for completely different prices depending on their native area. Homes near areas of convenience, for instance cities with heavy retail and business opportunities, can often sell for more than similar homes in more rural locations.
No matter what your vacant land has been used for, a trained and knowledgeable appraiser from Townhouse Appraisers will be able to provide you with your property’s true market value.
Townhouse Appraisers will complete your land appraisal in accordance to USPAP and Appraisal Guidelines for Federal Land Acquisition. Once valued, you’ll be able to market your property accordingly. Townhouse Appraisers will provide you not only with a strong opinion of value, but also details on how that value was reached. This gives you leverage with your potential buyers, as pointing out your lot’s strong suits will help them see how the property can best be developed.
Contact Townhouse Appraisers today. We have the experience and qualifications to meet all your appraisal needs.