How do I know if a landed property is overpriced

[kayode10]

You can only know when you do window shopping. What does this means? It means you need to price real estate property around the area in order to have the feel of the re price the property may worth. Not pricing things around is one of the common mistakes made by the newbies. At the end of the day, they will complain that they are not earning passive income with their investment since they buy property at expensive price.

 

[Kamon c4]

The real estate market condition will help you determine the price and value of a property. It’s good to make researches or employ the services of a professional realtor that’ll help evaluate the cost of a property in accordance to the market

 

[Heatman]

I want to invest in a landed property but I'm afraid of paying more than necessary for a property.
So how do I know if a landed property is overpriced to avoid making costly mistake and wasting my money

If there are other owners of landed properties within where you are looking at investing, you may try reach out to them and find out exactly what they paid. You can use any information they gave you to compare the price given to you.

 

[Aniwhyte]

First of all the size of the land, with the size of the land you would know if it's overpriced or cheap then secondly the location, if it's not in an urban area, if the area it is located doesn't have stable electricity, if the road closer to the land doesn't seems good all this i mentioned above are good signs to watch out for.

 

[Nurudeen]

For you to know if a landed is over priced or not you can call a valuer to help you know the actual price of the property. Another good way to do this is to engage the occupant in the neighborhood and ask them the exact amount they sell landed properties in the area, you might be lucky to see a neighbor who will be ready to give you good information

 

[GIFTMICHAEL]

How to know if you bought an overpriced landed property is when you failed to make proper consultation.
When you do it on your own when you know that it is not your line of business or profession definitely you are going to paid for your ignorance.

 

[Emma Aneni]

I think reliable trusted agent is greatly applicable here and the location of the land matters a lot as well here. You’ll need to make an enquiry and find out how much the land actually cost.

 

[Sammyesx]

I believe one of the major factor that influences the price of land is the location, land located in urban area are generally more expensive than land in a rural area. So if you are buying a land in a city expect a huge price

 

[Kelvin7656]

10 Telltale Signs A Home Is Overpriced

1. Sign #1 – The home is priced well above neighbouring properties for sale. ...
2. Sign #2 – The real estate agent who gave the highest valuation was hired. ...
3. Sign #4 – The home isn't seeing a steady stream of buyer showings. ...
4. Sign #5 – The home hasn't seen a single offer, despite months of marketing.

 

[Heatman]

First of all the size of the land, with the size of the land you would know if it's overpriced or cheap then secondly the location, if it's not in an urban area, if the area it is located doesn't have stable electricity, if the road closer to the land doesn't seems good all this i mentioned above are good signs to watch out for.

Some rural areas that are developed tend to sell their lands very expensive. There is one rural community here in my state, where it's almost impossible to get a plot of land for less than 3 million Naira. To even see any piece of land for sale is very difficult.

 

[Ralphjoe]

The only way to ascertain the price of the land is by employing the services of a surveyor. These are the professional that will tell you the value of any property that you want to buy.

 

[Heatman]

The only way to ascertain the price of the land is by employing the services of a surveyor. These are the professional that will tell you the value of any property that you want to buy.

Another one peculiar way to know the hand is overpriced would be if the land is situated in a strategic area but it still haven't been sold for a while, then it's very obvious that the owner is trying to oversell the land at hiked price which is why mostly likely no one has yet to purchase it.

 

[Taimoor Jutt]

You are right as it is always confusing and worrying thing to buy anything which we do not believe what is the price and what is the condition of this thing actually. So first you should estimate this yourself. Try to assess of location of that land , does this location suit the price of this land or not. Then consult to nearby people from that location so you will take fine decision about that.

 

[chicnthin]

This is the reason why getting an real estate agent is important. Their expertise is needed because you need a professional help. They would advise you whether you are making a good deal or when the property is overpriced.

 

[Janita]

A home is over priced if there is no interest from buyers the first 1-2 weeks it is listed. Additionally if no offers are received after the listing agent does his full due diligence to market the property, it's time to sit down and re-evaluate before re-assessing a new marketing plan or adjusted price.

 

[Heatman]

A home is over priced if there is no interest from buyers the first 1-2 weeks it is listed. Additionally if no offers are received after the listing agent does his full due diligence to market the property, it's time to sit down and re-evaluate before re-assessing a new marketing plan or adjusted price.

Exactly. Landed property or houses are hot commodity because it's an investment that starts paying the investor immediately it's in good condition. So, once any of such properties are put on sale, they are sold out but for any reason they are not sold, it means the selling price is not realistic for buyers.

 

[Goodday]

The price of land varies because the value attached to the land in one area might not be the same as the value of that same actres of land in another location. So when buying the land, you need to check the developing of the particular area where the land is located and now compare the actual price for the land. If you feel they tally, then you accept the offer.

 

[Kinglegend01]

I think the only way to be certain of paying the right amount valued for a particular landed property is for you to go to the municipal or city hall and check with the office of the property assessor. It is the office that deals with the market value of the land in the town. But the market value in the assessor's office is always lower than the actual market value by a certain degree depending on the location of the property.

 

[Heatman]

I think the only way to be certain of paying the right amount valued for a particular landed property is for you to go to the municipal or city hall and check with the office of the property assessor. It is the office that deals with the market value of the land in the town. But the market value in the assessor's office is always lower than the actual market value by a certain degree depending on the location of the property.

I'm sure they have their own data and valuation of lands and other properties, but in the end they can't tell the property owner what price he or she is willing to sell his or her prized possessions. The city hall can only give you an insight into what it may be sold.

 

[Ojonuyo]

One of the ways to know if a house is overpriced is by researching from at least two to three land dealers in the same related areas. After you have done this compare and contrast the prices then make your choice. Besides If you need cheap land you can consider buying land located in rural areas.