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Land Appraisals

LeighF

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Feb 3, 2008
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I am looking at buying 40 acres of bare land. Is it wise to get it appraised first to see if I maybe paying too much? Does anyone appraise bare land before a purchase? Is this a silly question?
Any feedback would be greatly appreciated.
 
I would recommend gettiing a full appraisal BEFORE I remove final conditions.

Find an expert in the specific region
 
QUOTE (DonCampbell @ Feb 18 2008, 06:22 PM) I would recommend gettiing a full appraisal BEFORE I remove final conditions.

Find an expert in the specific region

Perfect. Thanks Don!
 
QUOTE (DonCampbell @ Feb 18 2008, 09:22 PM) I would recommend gettiing a full appraisal BEFORE I remove final conditions.

Find an expert in the specific region

If you are considering subdividing.

Make sure you coach your appraiser. Sometimes when in a rural area its hard to find comparables and its really up to the opinion of the appraiser, so if you are looking for financing from the bank ask him to show your land in the best light, if you are looking to buy on your own or on behalf of your investors get the appraiser to give as an accurate as possible opinion.

There are number of different appraisal techniques for land that doesn`t have a lot of comparables, all the appraiser does is give their opinion and back it up with generally accepted principles and the information available (i.e. information supplied by an anxious realtor).

Bri
 
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