Four Ways an Appraiser Determines a Vacant Land’s Value

Many investors struggle with understanding the market value of vacant land; it is because they do not have an idea of how to categorize the lot. However, hiring an appraiser is always a conventional decision to know the value of land that is ready to be sold.

Here are four essential aspects that an appraiser checks while evaluating a vacant land appraisers Los Angeles county.

1- Surrounding land uses and area market trends:

An expert appraiser will check the neighboring property and inspect where the land usage is heading. The transitions like farms and timberland to residential properties or developments can enhance the value. Furthermore, unused and damaged land can decrease the land’s price significantly. 

2- Timber characteristics:

The aesthetic appeal of the timber on the land and verifying if it is naturally grown and can get traded for good value is another aspect of gaining extra profit. Also, the appraiser will determine the marketability of the property’s timber to finalize the value.

3- Amenity:

A waterfront or A beautiful view becomes a positive factor in the land. But if the existence of such amenity impairs the use of the overall property, then one can expect such factors are of no use to increase the land’s value. 

4- Location:

Location is one of the most important factors in real estate. Land near to a city might have development potential. Hence, exceeding the value.

Bottom line:

Assigning a value to vacant land is a complicated process, yet keeping these factors in mind, a licensed appraiser can help you determine the actual value.