What's my Land Worth?
If selling a house means selling a home, then selling land means selling potential. Unlike residential real estate, land use varies greatly: you can use land for farming, for forestry, for hunting, and more—but only if local regulations and zoning laws allow. It’s vital to learn as much as possible about your property, to determine the land’s highest and best fair-market value. Read through the questions below to help you understand your property’s value and develop an accurate pricing analysis:
- How many Acres do you own?
- What County is your land located in?
- Is the land owned solely by you? Are there any co-owners? Inherited property?
- Is the land in your name or an LLC?
- What is the ratio of open land to timberland?
- Are there any water features? Creeks, River, Pond, etc.?
- Is your land enrolled in any conservation easement programs?
- Is your land enrolled in the Present Use Value / Tax Deferred Program?
- Is there a forestry management plan for the timber?
- Are there any current hunting of agricultural leases?
- Has the timber been recently harvested? Is a timber deed recorded?
- Has any soil evaluation been conducted? Percolation Test?
- Is there access to a public highway?
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- Is there a deeded easement? If so, can a copy of the deed be provided?
- Do you have a survey of the property?
- Are you near any airports that would require a Noise Pollution disclosure?
- Mineral, Oil and Gas Rights Disclosure – Do you own all of the rights to your property?
- Distance to Amenities – How close are you to hospitals, gas stations, nearest town?
- Are there any structures on the property? Any unique characteristics?
- Who are your utilities providers if applicable?
- What has the property historically been used for?
- What is the current zoning?
- Do you have the tax card?
- Are the taxes current?
- Do you have any liens or encumbrances on the property that would encumber the sale?
- What is the terrain like? Flat, rolling, etc?
- Has the property flooded in the past?
- Is any of the property encompassed in the wetland designated area or FEMA floodplain?
Where Do I Start?
It can take a while to track down all the necessary resources for a price evaluation. We’ve put together a comprehensive set of informational documents, sample agreements, legal disclosures, and other resources that you might find useful while determining the price of your property or working with a real estate agent. If you have any questions about any of these documents or want more information, CLICK HERE to get in touch with one of our Local Land Specialists.