how to find a value for a vacant residential lot

  • December 20 2012 - Orlando
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Answers (4)

Profile picture for Ofe Polack
Are you planning on selling a lot or buying one? 
  • December 20 2012
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Looking at what other similar lots have sold for will help you establish the value.

If there are no other similar lot sales then you can look at houses on similar lots and back out the cost of the house from the purchase price to come up with the value of the lot.
  • December 20 2012
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Option 1/ You can call a Local Realtor regarding this lot's value. They will preform a CMA (Comparitive market analysis) and use comps to determine value.
Option 2/ You can call a local appraiser.

  • December 20 2012
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Profile picture for jeremyolsher
The best way is to hire a licensed appraiser and get a true value of the property.

Another option would be for a Real Estate broker in the area, preferable one who specializes in vacant lots or land to do a comparative market analysis for you. 
  • December 20 2012
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