how to evaluate a piece of land?

i need different formulas
In Selling Property - Asked by Manal A. - Oct 9, 2008
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Answer(s)

Scott V.
Appraiser
Las Vegas, NV

Most likely will need an appraiser to get an accurate valuation. Land is difficult to appraiser sometimes, there are many variables invloved and no one way to approach the problem.

Oct 9, 2008
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Josh W.
Broker/Agent
Charleston, SC

In short, the end user determines the formula. An MAI appraisal should help in determining highest and best use. In the end though, the end user and their potential use or profit expectations help determine what can be paid for raw land on the front end. So if residential, start with target home price and work backwards, if commercial you could start with target lease or sale rates with profit expectations and work backwards to raw land.

Oct 9, 2008
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