What Does a Land Appraiser Look For?

Thinking of buying or selling some farmland this year? If so, you’re probably going to need an appraiser to come out and look at the property in question before you do anything else. If you’re reading this article then you’re probably wondering, what does a property assessor look for when doing a land appraisal? We’ll dive into some of the details for you below.

Property Assessment

In order to properly price and sell land, you’re going to need a property assessment done. This means that a property assessor will come out to the property and spend some time walking around, reviewing certain criteria and drawing up a formal land assessment. Some of the factors that goes into a property assessment include:

  • Location and Access - The location of the land and its ease of access are both factors in any land assessment. Land that is closer to town and has several access points from a main road will come at a higher value than a piece of land that is difficult to get to.
  • Topography - The topography of land can affect the land’s value too. A flat, developed piece of land is going to appraise higher than hills and forested areas because the uses for it are more abundant.
  • Configuration - Land configuration is important when determining value because it tells an appraiser how the land is currently being used and how it will best be used in the future.
  • Amenities - Any amenities on the land, such as a home or a barn, will inevitably factor into the land assessment. This brings into question a home or barn’s value as well, but that is done as a separate appraisal.
  • Surrounding Properties - Any surrounding properties are bound to affect land value. This can be a positive or negative affect, depending on the condition of the properties, but either way it is important to note when asking for a land assessment.

Are you interested in what is currently on the market? You can find an auction near you, or you can browse through some of the land currently for sale here

Land Appraisal Cost

A land appraisal typically costs more than a home appraisal. In general, a home appraisal typically costs a few hundred dollars. A land appraisal, on the other hand, can cost up to a few thousand dollars depending on the size of the property. This may seem high, but there are several factors involved in this price range. For example, a land assessment requires extensive photographs and research, not to mention time to actually walk the entire property.

What’s the First Step?

The first step to buying or selling property is contacting an appraiser near you. To find an appraiser, ask for referrals from family and friends first. You may be able to receive discounted services if you are referred to someone. If you can’t find any referrals, then do some thorough research before selecting a property assessor. If you would like some more information on this process, feel free to contact us. We’re happy to help.

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