Factors an appraiser uses to determine land value
Below are some of the most important factors a property appraiser considers when determining the value of a property. They can be applied to any land, whether a sprawling private island or a humble 1-acre lot. For land buyers, these factors can help you know whether a property is fairly priced, and to recognize the pros and cons of the land you are considering.
Land real estate experts will tell you access is a key factor in evaluating the marketability of a property, because - no matter how great the property is - its use is limited when it’s difficult to reach. When Ryan appraises a property, he asks a series of questions about access:
- Can the property be accessed by a nearby