Determining Land Value

3 Replies | Oklahoma City, Oklahoma

@Cheree Harris I'd be happy to run comps. for you, but in the interim an investor / builder is typically going to want to buy the land for less than the county assessor's estimate of the market value of the land. You can typically find this number by searching for the property on the county assessor's website. Most counties separate the value of the land / lot from the value of any improvements for tax purposes.

Land is actually more difficult to value than the improvements to the land. There are so many q's I want to ask to help give you an accurate idea. The first and probably most important question to ask is what is the highest and best use of the land (from the potential buyers perspective). Meaning does it have commercial potential, residential build, farm, etc. Probably the next question is, does it have all utilities available to the land. Next, are there any restrictions to the land.

Where is it? I assume you are in OKC somewhere and how much land?