Land Appraisal Questions?

Welcome to the forum kmoneil!

I would maybe suggest first doing a liitle research and see if there is any comparable land in the nearby areas that has sold recently. This would give you a pretty good idea as to how much you can get for it. Regardless to how much it may appraise for you can only get what someone is willing to pay for it.

Best of Luck!

Hi kmoneil,

As far as I know, you should contact an appraiser and he would appraise the land and let you know the exact value of the property. Then you can list the land in the market for sale.

I would have the land surveyed for oil or natural gas

There are Appraisal Organizations who have online presence that you can contact. Some would be NAIFA, (National Society of Independent Fee Appraisers) Appraisal Institute, ASFMRA (American Society of Farm and Rural Appraisers) whose Appraisers usually specialize in appraising Farm and Rural Lands. Many will offer a profile of the Appraiser, their contact information and credentials. You may then contact and speak to several appraisers, give a more detailed description of your property, explain the purpose of appraisal, ascertain their experience and determine/compare their fee schedules. There are two levels of certfication that typically meet the minimum education requirements for these types of properties, especially in rural areas. The two categores are State Certified (residential) and General (commercial propertes)

http://www.landsofamerica.com/landsconnector/asfmra/index.cfm?PageNum=48&action=resultsByCounty&state_id=40&region_id=&price=0%2C10000000000&sqft=&style=2

I really appreciate everyone for helping me out!

Thanks!

Welcome back kmoneil,

You're most welcome. In case, if you have further queries regarding mortgage or other related issues, feel free to post in the forums. The experts and other members participating here would try and offer their suggestions to you.