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A Guide on How Land Appraisal is Done

Land is a very important resource with regard to any economic activity as it is a form of capital. 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. Appraisers use the following guides in creating an opinion of the value of the land.

The first aspect that the land appraisers look into is the accessibility of the land. The usability of a piece of land is tied to the ease of access and for this reason, accessibility is very important. With regard to accessibility alone your property may be termed to be of low value simply because it is not easy to access. For this reason you ought to ensure that the land is accessible from the main road.

The lay of the land or the topography is the second aspect that is checked on during an appraisal. The type of land use practice to be carried out on the piece of land will be determined by its topography. Assessment of the lay of the land can be aided by the use of paper maps or from electronic sources. After an assessment of the land with regard to its topography, a different land use system with tremendous economic benefit may be identified hence a high value is achieved for the land. The susceptibility of the land to floods is also an aspect captured during the topography assessment of the land. The property value may rise or go down as per the appraisal depending on the impact of the flooding on the preferred land use of the property In question.

The diversity of flora and fauna within the property an appraisal is being done on is the third consideration that takes into thought. There are many economic gains an owner can get from a land rich in plant and animal life. For this reason the appraisal value will be high. If the species of the life forms present are of high value, expect a high appraisal value from the experts.

The fourth factor that is checked on during an appraisal is the adjacent land use practices and the land zoning of the piece of property in question. 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 property’s value can raise or lower in appraisal depending on the kind of restrictions placed on zoned off area.

In conclusion, the location of the land plays an important role during the appraisal value of the property but it all depends on the activity it will be used for.

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