How to Calculate Land Values

Posted by admin on November 29, 2012

When it comes to transactions, it is essential that you be able to calculate real estate values. As a seller, you want to make sure you don’t sell to someone for a price lower than it’s worth. As a buyer, you don’t want to pay more than it’s worth. While land prices vary depending on the area and the characteristics of the property, you can always find cheap land for sale and figure out a ballpark figure so you are paying a fair price.

The following sources will help you to estimate the value of the land in question:

Recorded Deed

Deeds are used to transfer property to a buyer, and most states require that the seller include the real estate price on each transaction. Deeds are public record, so visit with the county to see what the property is valued at. Bear in mind, though, values can change over time due to shifts in the economy or changes in the community or any other number of factors.

County Assessed Value

To determine property taxes, every county assesses the value of each property in their jurisdiction. This information is on public record, so you can easily access it to get a relatively accurate estimate on market values.

Realtors

Realtors are an excellent source of information. They typically work in very specific areas and develop expertise over the years on market values of properties in these areas. When working with a realtor, have them show you multiple parcels of cheap land for sale to get a feel for what is offered in the area. Also, make sure to ask questions and voice any concerns – realtors can give you a lot of insight!

If you are interested in cheap land for sale, head over to AllAcres.com for affordable, high quality listings in your desired area. When you come across parcels of land that you are interested, use one of the following sources above to make sure that you are paying a fair price. For more information on cheap land for sale, please call AllAcres today at (855) 227-3741 or contact us online.