Land Appraisals

While vacant Land can be one of the more simple forms of real estate given that it has no improvements to deal with, it can also be one of the most complex to appraise. This is due primarily to the fact that that the Land has not been committed to a use involving an improvement. Raw Land without improvements offers the user more options and consequently causes the appraiser to have more of a complex Highest and Best Use decision. Issues such as zoning, utilities, ingress and egress, as well as the demand for various property uses become a factor. This is fortunately not the case with subdivision lots, as they typically have been legally designated for a particular use through deed restrictions and most likely local zoning. Given the difficulty of determining the best use of the property, the demand for that property and what can actually can be built on it, appraising can be a challenge.

We at ELLIOTT® & Company Appraisers are experts at dealing with Land. We offer evaluation service in all 50 of the United States.