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Real Estate Value Determination Before determining real
estate values, one must determine; what is the reason for the valuation? If you
are a seller, you want to get the most you can. If you are a buyer, you want
to pay the least you can. If you are paying taxes on the property, you want the
lowest valuation you can get. The reason for the evaluation is determined before
the valuation method is selected. A Broker Price Opinion (BPO) is a method used by a licensed real estate broker to help determine a price for
a particular real estate property based on comparing similar or “like” properties that have sold recently. When dealing with pricing houses, this method can be a good tool. When dealing with raw land, finding “like” parcels is difficult and finding “like”
parcels that have sold recently is almost impossible, especially in the same area! Real
estate buyers/investors are usually ahead of the game by being more informed about real estate values than the seller. How? By using more than just comparing “like” property sales! Let’s look at six more basic factors that buyers/investors use to determine what they will pay for
real estate and as a seller, you should consider: - Fair Market Value. The price that a given property would expect to bring in the current marketplace subject
to the buyer and seller being reasonably informed about the property; free of undue pressure; and given a reasonable period
of time for due diligence and for the transaction to be completed.
- Environmental
Assessments. The investigation into any past or present condition of the land that may cause concern or penalty from
federal, state or local agencies.
- Contributory Values. Other assets, programs or contracts associated with the property that could add to or subtract
from the value to the property. Timber is a good example of an asset that could
add to or subtract from the value of the property.
- Development Potential. The determination
of the feasibility that the parcel can be developed based on the available financing for the project, permitting, soils evaluation,
availability of utilities, recorded easements, demographics, market acceptance, marketing plan, time required to complete,
etc.
- Qualified Buyer. A buyer that can afford to pay for the property.
- Legalities. All legal items related to the property, affecting the property and required
by law to be executed by an attorney.
TFC, Inc., dba Gerard Real Estate is a licensed real estate firm
that deals with land only. We list and sell land, determine land values based
on client’s needs and as a management entity provider, we perform the required maintenance and operation on water and
wastewater systems. Give me a call at 252.945.0851 for more information.
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TFC, Inc. 2230
Mouth of the Creek Road Blounts Creek, NC 27814 252.945.0851 nclandexperts@yahoo.com FEE SCHEDULE All Services Except Commissions Require A Pre-payment With Agreement Real Estate
Agency is commissioned based. All commissions are negotiable. Real Estate Consulting is hourly based. $
50.00 per hour base rate. Other
Consulting based on client needs and referrals.
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