I’ve been getting a lot of questions lately about specific issues regarding to land. I thought I would share so everyone could benefit.
QUESTION:
I had someone contact me about selling his land. It’s 1 Acre and it has an old abandoned Mobile home on it. It’s been abandoned about 8 months. The land can be used for commerical or residential. He inherited the land and wants to get rid of it. He said he wants 38k for it. Is it possible to wholesale land. And how exactly do you run the comps for it. I ran the comps for the area and homes in that area sell between 90-190K.
ANSWER:
I would contact the local County assessor and 1st ask what the assessed value for that land is valued at, then I would ask for the comparable sales for the last 90 days. You can also go online and for a few bucks get information at www.homeinfoMax.com, that will provide you with the comparable sales.
