If you have land you are looking to sell, one of the most important steps in the process is figuring out how do you price land for sale. Doing so accurately to make sure that you don’t lose any value you deserve is a science. It requires knowledge of appraisal techniques, geology, real estate, and potential business opportunities on the land.
The only way to make absolutely sure you get all the value you can out of your land is to contact professional real estate or land appraisal companies. If you want to get a feel for how to start the process yourself, we’ll cover the basics in this article.
Step 1: Survey
The first step any property owner or anyone with land for sale should do before any significant changes are made is to conduct a survey. This will tell you where the boundaries of the property are and its exact dimensions and size. This way, you will know what land is yours to use or sell. And if any other parties have any competing interests or stakes that could affect your property.
Step 2: Geological/Environmental Survey
The complicated nature of land surveys necessitates complicated tools and methods used to survey geological, hydrological, or environmental factors on the land. This will greatly affect the value of the land. Property with water, oil, or other precious material on it will be worth much more than barren land.
Step 3: Check Zoning Regulations
Another step is to get in touch with your local government and check what zoning requirements, if any, your land has. These limitations or abilities will greatly affect the pricing of your land. Some land is zoned for residential or commercial use and can be worth more than other plots.
Step 4: Compare Local Listings
One of the easiest and most effective ways for the average person to appraise their land is to simply check local listings for comparable properties. This step will allow you to easily estimate how much to price your land for sale. It will prevent you from asking too low or too high.
Millions of people every year find it worthwhile to hire a professional appraisal or consulting company. They can figure out what their land is worth. Underestimating it can end up causing you to lose out on enormous amounts of value you are entitled to.
The best strategy for land appraisal is to let the experts survey, appraise, and list your land. This way you can be sure you get all the value you expect to get and make the most of your investments.
Brandon Mickens has been involved with buying and selling land for the past 15 years. He now wants to share his knowledge and experience with others.