Guys,

I am looking to make an offer on an off-market property. The particular property I'm looking at is the largest in the neighborhood. Similar square foot, bedroom count, etc. comps in the area are on the water, but the property I am looking at is not. I was advised to deduct the land value from the comps on the water and use that number as my basis. I'd like to know what you guys think. Thanks in advance.