Profile picture for 71Corvette

Trying to find comps for a small parcel of land

For some time now I've been trying to acquire a small parcel of land that abuts my home property from a utility company. It seems the utility has very little use for the parcel and my initial discussions with them they were willing to sell. However, the catch is they are asking for the full assessed value which, in my opinion, is way to high. The lot is located in a rural community with a minimum lot size of 2 acres. This lot is only 0.75 acres and the road leading to it has been abandoned for many years leaving the parcel land locked. I made an offer for a small fraction of the assessed value but it was rejected by the utility. I'd really like to acquire this property so we can expand our yard.

I've tried finding comps on other similar small parcels in hopes of demonstrating to the utility that the assessed value is unreasonable. However, I've struggled to find comps on similar parcels.

Any suggestions on where to find comps, or how otherwise to approach this?
  • May 10 2013 - Brooksville
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (3)

Not sure. Complete land appraisals are more expensive than home appraisals due to the lack of comparable sales.

I would as for a price on a non-form appraisal, ie a letter of valuation. It would be the same VALUE but less work for the appraiser hence less expense. The value could not be used for lending purposes, though...

Good luck
  • May 11 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for 71Corvette
Thanks, I guess I'll give that a shot. How much should something like this cost (ballpark)?
  • May 11 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Simply call an appraiser who specializes in land.

Use this link to find a LOCAL appraiser, call a few and ask them about their experience with similar parcels.

Your valuation is complex - you wont find 'comps' nor the ability to interrept them without expertise, which isn't free.
  • May 10 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.