Land Appraisal

land appraisal

What is a land appraisal?

This type of appraisals They are usually a necessary requirement to carry out various movements and procedures related to it, such as buying and selling, It is through these appraisals that a monetary value is defined; both urban and rural spaces or plots are subject to valuation. These types of services must be issued by an appraiser certified professional.

What is a land appraisal used for?

This type of appraisal allows the person to define the fair value of the space, this with the purpose that the land can be sold or rented at the correct price and avoid losses, in addition to providing the person with the tools for better decision making and the necessary knowledge for any type of transaction you wish to carry out.

Another reason why an appraisal of this type is requested is in the event that a subdivision of land is required, since the Municipal Works Directorate will request a current appraisal certificate for the properties that you want to subdivide.

How to carry out this valuation with a land appraiser?

There are several methods used by an appraiser to carry out the appraisal and the choice depends on the certified appraiser who will measure the objectives of the services and the client:

sales comparison If there is enough information, this is the best method for an appraisal. The appraisal expert analyzes and compares prices of similar land in similar areas, then estimates adjustments taking into account the differences and thus defines the monetary value of the space to be valued.
distribution of valuesIn this method, the appraiser analyzes land with buildings or built structures and calculates the percentage of the total value that the surface value represents.
Extraction of the groundSimilar to the previous method, sales of these spaces with improvements are analyzed and the value attributed to them is extracted from the total price. The remainder is the value corresponding to the surface.
income capitalizationThe appraisal expert calculates the value of future income that the land could generate. The particular characteristics of the land and the area in which it is located are important factors that will define its value.

Valuation of urban spaces

Are Urban spaces are considered those that are located in inhabited or expanding areas, The land use can be residential, commercial or mixed, spaces for industrial use also fall into this group. These areas benefit demographic growth, within the characteristics of urban spaces we can find: the high population density, They have a larger area and infrastructure, which causes an increase in the price of land and a high demand in the number of homes, commercial spaces and different economic activities.

Valuation of rural plots

These areas favor proximity to nature because they are located in places far from the city and Among the main economic activities are agriculture and livestock. Within this category, spaces that can be used for animal husbandry, plantations, or forestry spaces are considered and can be the following:

  • agricultural irrigation
  • Irrigation point agricultural or auxiliary
  • seasonal agricultural
  • agricultural humidity
  • Induced grassland livestock
  • Natural rangeland livestock
  • foresters
  • agro-industrial

Important aspects to take into account before requesting a land appraisal 

  • You must not have any type of debt, either in terms of services or deed procedures.
  • The deeds must be in the name of the person requesting the appraisal, even if it comes from an inheritance or succession.
  • Hire the services of a certified appraiser so that the results are accurate and have official validity.
  • Keep in mind that the services that the space has at the time of the appraisal will be decisive for the value estimate.

How much does a land appraisal cost?

Depending on the square meters of the land and the location, we can give the appraisal value for your land, however the price can range from 2,000 mn to 50,000 mn

What do I need to request it?

Documentation that certifies the authenticity of the property is required throughout the appraisal process, such as:

  • copy deed
  • Copy of property receipt
  • Copy of water bill
  • Architectural plans

What does the appraisal of an expert appraiser include?

real estate valueDetermination of real estate value

photographic reportPhotographic report

real estate planArchitectural plan

They may vary depending on the type of appraisal.

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