InvestMaN has some knowledge in the nutshell to share with our readers who are looking for a land appraisal service. If you already own land, you can appraise its value on your own. This can be done by conducting a survey of the offering price or actual selling price of land in the area/region where your land is located. Next, following these five simple steps below and you will be able to determine the approximate price of your land.
Location - You can determine the key points of the local community, such as markets, shopping malls, etc., and compare the distance from your land to the key points relative to the comparable datas you found from the survey. This will tell you if your location is inferior or superior to your comparables.
Accessibility - Consider accessibility by identifying access routes if they are the main road, street or alley. Also, the width of the roadway and the road surface are variables which will measure the convenience of accessibility.
Utilities & Infrastructure - Consider the state's public utilities/infrastructure, such as water supply, electricity, sewer, and waste disposal, which are the main factors for the continued use of the land.
Land level - Consider the soil level that may be filled relative to the road level adjacent to the land, if it is higher or lower.
Laws & Regulation - Check with the local authority or government agencies on any regulation and restriction on the area your land is located. Usually, the city planning regulations and colo
Once all this information is gathered, we may create a comparative scale to see if the land is superior or inferior in each aspect to the comparable sets. This will allow us to see the picture if our land is better, hence, should be able to command higher value or vice versa. In summary, we will be able to determine the approximate price of our land. Hiring a service from an appraisal company is no longer needed unless one needs an official certified appraisal report for any transaction.