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Discussion Starter #1
I need real dollar value of a lot I own for sale not factoring some lots that were dumped to quick cash sale.. Problem is I can do comps. What I really need is the real value due to limited lots left in a growing area.
Not trying to get rich but not giving it away.
 

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since you can do comps, and only you know where it is, its size, interior, exterior lot, whats surrounds the lot... paved road, dirt path, cleared, sewer and other utilities close, if not will it support a septic system, dry, wetlands, a 60K neighborhood, or a 500K neighborhood..... is it commercial or residential. lord, the list goes on and on....
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C-Hawk 245 Pilot House
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Get a local realtor or two to look at it, they should be able to give a fair market value for it. Also, you can have it professionally appraised $$. Bottom line, it's worth what someone will give for it.
 

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Discussion Starter #5
since you can do comps, and only you know where it is, its size, interior, exterior lot, whats surrounds the lot... paved road, dirt path, cleared, sewer and other utilities close, if not will it support a septic system, dry, wetlands, a 60K neighborhood, or a 500K neighborhood..... is it commercial or residential. lord, the list goes on and on....
:)
I understand what should be factored in but the two realtors who wanted to sell my lot were $12,500 apart in their [ appraisal ] also a few lots close by were dumped for around taxable value. So how would you approach this ? Like any transaction for boats, house, guns ect I do realize it is what the buyer will pay for it.
 

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Comps, your future buyer will be looking at the comps.... (Possibility the same comps your Realtor(s) did...) if you were looking to buy the lot, you'd be looking at these comps as well. Then your negotiation skills enter the equation. unimproved property can be a bear to sell sometimes....

Like I said above, it all depends on the lot itself. Other than that there isn't really anything anyone can tell you, that you don't already know...
 

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Put it on the market 20% over the higher evaluation, then let the market decide, you'll find out if it's overpriced.
 
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Put it on the market 20% over the higher evaluation, then let the market decide, you'll find out if it's overpriced.
not super good advice. you only have one shot at being new on the market, after that you will blend into he rest of the noise in the RE market..... then you have to wait your turn and take your beatings as they come.... price it right and sell it.... it all boils down to the lot and the comparable lots....

example, the lot down the street (all things equal) is listed for 18,500 and has been sitting there for sale for 18 months...... don't price your lot at 30K..... besides your lot may back up to a mobile home park, or a temporary RV park.... only you know the details....
 

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Green Eggs And Ham
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If someone wants the property they will make and offer, people these days have no problem hurting your feelings about underbidding the property value.
 

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not super good advice. you only have one shot at being new on the market, after that you will blend into he rest of the noise in the RE market..... then you have to wait your turn and take your beatings as they come.... price it right and sell it.... it all boils down to the lot and the comparable lots....

example, the lot down the street (all things equal) is listed for 18,500 and has been sitting there for sale for 18 months...... don't price your lot at 30K..... besides your lot may back up to a mobile home park, or a temporary RV park.... only you know the details....
I have heard this before. I just sold a lot (if it closes) in 24 hours of it being on the market. Again, it's all about location.
 

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Discussion Starter #11
I thank everyone for their advice. I could not believe that 2 different realtors were that far apart on price. Probably the low was to sell it to a builder is my thought. anyway I am not trying to make a killing just do not want to get hosed. Neither of the realtors explained how they came up with the price just said that was what it should sell for. So for now; on ward and upward no big deal.
 

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I thank everyone for their advice. I could not believe that 2 different realtors were that far apart on price. Probably the low was to sell it to a builder is my thought. anyway I am not trying to make a killing just do not want to get hosed. Neither of the realtors explained how they came up with the price just said that was what it should sell for. So for now; on ward and upward no big deal.
There's your problem. Both should have showed you exactly how they came to their determination on value. I always show clients how I came up with "market value". Land is different than houses. Appraised value really only matters if they're getting financing and over here, that is rare. Most folks are paying cash for land.
 

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There's your problem. Both should have showed you exactly how they came to their determination on value. I always show clients how I came up with "market value". Land is different than houses. Appraised value really only matters if they're getting financing and over here, that is rare. Most folks are paying cash for land.
This we didn’t care about appraised value and paid cash for out lot.
 

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Discussion Starter #14
Talked to the realtor who quoted the lower price on my lot. Well he said that was if I wanted to sell it to a builder which was not my intent. The other price would be the retail asking price which is what I wanted to start with .
 
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