What Do You Know About Appraisals

A Guide on How Land Appraisal is Done

Land is a very important capital asset with regard to any economic activity. It is possible to know the value of a piece of land through land appraisal regardless of its use as a residential or commercial premise. Here are some of the factors that land appraisers use to create an opinion on the value of the land.

First, the land appraisers look into the ease of accessing the piece of land. Accessibility is a very important aspect of land as it has a great determinant on its usability. With regard to accessibility alone your property may be termed to be of low value simply because it is not easy to access. To avoid a low-value appraisal, ensure that the property can easily be accessed from the main road.

The lay of the land or the topography is the second aspect that is checked on during an appraisal. Topography is a very important aspect as it is a major determinant to the potential land use practices the land can be subjected to. Electonic sources and paper maps are the map image sources that can be used in the assessment of the topography of the land. Appraisals based on topography are very insightful as they can change the core idea of the land practice to carry out in the land and make the value shoot up drastically. During the topography assessment of the land for an appraisal, the topography can give a lot of insight on the susceptibility of the land to flooding. This is gauged with the potential land use practice and it can either raise or lower the value of the land during the appraisal.

The third determinant to the appraisal of a property in question is the diversity of flora and fauna found within the property. Flora and fauna are of great value as they determine the land practices that can be practiced such as lumbering and hunting. For such a piece of land the appraisal value is expected to be high. If the species of the life forms present are of high value, expect a high appraisal value from the experts.

The land use practices and the land use zoning of the property in question is also a factor that is considered during the appraisal process of the property. The potential of the land in question is determined by what other properties or lands around it have been put through. If the practice is compatible the value will be high on appraisal and it will be low if the uses are incompatible. The value of a property in a zoned off, is determined by the restrictions managing the zone and its appraisal value can either be high or very low.

Lastly, the location of the property plays a major role in determining the appraisal value of the land but most crucial is the activity it will be used for.

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