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Updated about 5 years ago on . Most recent reply

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Ralph Ace
  • Real Estate Agent
  • Chicago, IL
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How much is land & how much is house?

Ralph Ace
  • Real Estate Agent
  • Chicago, IL
Posted

I showed a home that was in a real bad shape right by a huge lake with beautiful views for only $145,000.

Client wanted to know how much is land & house separately.

Since the house with land is $145,000.  What would be price of land alone? What would be price of house alone?

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Jerryll Noorden
#2 Marketing Your Property Contributor
  • Flipper/Rehabber
  • Wilton, CT
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Jerryll Noorden
#2 Marketing Your Property Contributor
  • Flipper/Rehabber
  • Wilton, CT
Replied

keep in mind... sometimes just because there is a structure on said land the market value of the land goes down.

If I have a piece of land worth $100K and on that land a teardown is present, I would have to pay 25K to tear it down and an other $15K to haul it away... making the purchase worth $65K

  • Jerryll Noorden
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