When you work with a professional buyer, like Investment Land Alliance, to sell your land, you want to make sure you can trust them to do their best for you from start to close. We put a top priority on helping you realize the most money from your sale. We also make sure that you’re comfortable every step of the way so that you can move on with the plans for your future with confidence. We can give you a fast closing, a cash offer, and little to no stress. But you may still be wondering how we come up with our offers for your land in the first place. In this post, we will look Behind the Numbers – How We Develop Our Offers When Buying Land in Arizona.
1) Property Features
Before we start buying land in Arizona, we take a look at a couple things. Some people may think the size, or acreage, of a property will determine the value of your land. But many other factors can add value. These include:
Utilities
Are there utilities running to the property? This may or may not have an impact on the value of your land. If the property is fairly remote, we may be able to find a buyer looking for off the grid land. In that case, not having established utilities won’t really be a problem. However, if the potential owner wants to have readily available resources such as electricity and water, they will likely have to pay to have these things installed before they are able to build. These costs can be factored into the value of your land.
Assessments
From time to time, counties will impose assessments on property holders in an effort to raise funds for increased development. Things like utilities, new roads, and sidewalks can all come with a fee for local property owners. If there is an assessment balance on your property, the value will be lower than those properties that have assessments paid in full.
Location
While being on a busy road can be great for commercial properties, the opposite is often true for single-family homes. Being on a busy street will typically decrease the property’s value. Other things like being a corner lot, larger than average lot, or the proximity to necessary amenities all play a factor in how much the property is worth.
The Dirt Itself
The quality of the soil can impact a property’s value as can the amount of foliage that will need to be removed for development. If the property is covered with bushes and trees the costs can be expensive to clean and will be reflected in the value of the property.
2) Run Comps
Another thing we do before buying land in Arizona is to take a look at the most recent comparable sales. The pieces of land we compare yours to should will be as similar as possible. For example, a piece of land along a creek could be worth more than a property surrounded by others lots just a few blocks over. And we check the most recent sales in the area to stay as up to date as we possibly can.
3) Future Development
If there are big plans for your area, make sure to make this known up front. Often times a large development in the works can help increase the value of the land. Investors will swarm at the chance to purchase a property in an up and coming area, where land values are likely to rise.
4) The Potential
One last thing we consider before buying land in Arizona is the property’s potential. We are pretty good at seeing vacant land as more than just a piece of dirt. If we know of upcoming development plans in the area that could help us offer a bit more. Or, quite a few of our buying clients are looking for more remote, off-the-grid lots with large acreage and dirt road access. If we have a good vision of how someone might use the land, we can help you sell it.