Maybe it's a right time you will need a surveyor to come and survey and check in and sometimes guide you on how to buy on a cost basis
How do I know if a landed property is overpriced
- Thread starter Erik4150
- Start date
From my experience in purchasing landed properties there is always a way that you can get your information from making your enquiries from those that have already invested within the location that you want to invest from.
Excellent reply - this encapsulates all that's needed to be known about overpriced real estate. The key pointer is when no one's making any offer for that property. That's very obvious and might not need you to ask so much questions
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
There are many strategies or methods you can employ to check if a land or property is overpriced. One of the methods is to employ the services of a professional real estate agent.
In a situation you don't have money to do that you can do comparison with nearby properties and the location of the property is also very important to determine the possible price.
In a situation you don't have money to do that you can do comparison with nearby properties and the location of the property is also very important to determine the possible price.
Personally I believe that there are surveyors that you can actually be able to tell you point Blank the economic worth of the property that you want to purchase, so making use of them will sort a lot of issues for you.
The surveyor of the land is only for doing the measurement. He is usually a geodetic engineer with his equipment. He has nothing to do with the value of the land so there is no such thing as "point blank" statement on the value of the real estate. You need an agent for that matter.
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
The simple truth is that both surveyors and agents offer valuation services for Lands so it's not strictly left for agents to do the land valuation for you but the problem is that both surveyors and agents don't really agree to land valuation prices.
If you feel the land you bought or about to purchase is overpriced, then it is advisable to go with a surveyor who is expected to know the value of a property.
You are absolutely right @Alexandoy, the topographer is in charge of the base of the property (land), in my country we have the "peritos" these are in charge of giving the fair prices of the properties taking into account many factors, among them the years of construction, the state of the property, the materials used, the correct measurements, etc.
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
For you not to buy an overpriced property you have to do due diligence by approaching other estate agents in knowing about the price of similar property or securing the services of an estate valuer who will be able to give you the approximate value of such property.
That's true but can the words of these agents be really trusted? O have heard about some cases whereby agents has tagged houses for lesser values and vise versa, have you had any experience with an agent before?
Whenever you want to purchase a land, don't go as a loner, take someone with you, someone who is into properties or has an idea of how lands are sold in the area.
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
If you want to purchase a land and you feel the price of that land is too costly then the best thing is to ask other residents how much they purchase the
If you truly want to avoid overpricing any landed property that you are interested in purchasing. You should be aware of the worth of the specific place from which you are purchasing the property. Inquire of those involved in real estate investing, particularly realtors in the area, to determine the exact value of the property you're purchasing.
You can do window shopping and trying to know the price of similar property within the vicinity. This will give you the actual price and value of the real estate property you want to buy.
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
The location is the most important thing to consider at this point ,when the location is not really good it is expected that the price of a particular land should be reduced,you should ask of similar asset around and know how it is being sold from there you can have a background understanding of the best price, of course you have to do your own research and include expert.
I think most times it is difficult to know except if you had asked around for the typical cost of such property in that area.
There could be factors that necessitate the over-price. get to know them so as not to feel cheated.
You can know if a land is over price by the location of such land, land appreciate due to it's location, a land in urban areas are more costly than those in rural areas. The development in a particular area affect land price positively because people might want to utilize such land for forther development.
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
That's true though but there are lands these days in the rural areas that are also very expensive, due to the fact that it's either close to the high way or some few kilometers from the city.
If you are new into a real estate investment you will not be the one handling everything. Partnering with people with better idea of real estate is The Only Way out. They would help you know the best price of a property depending on its location.
Newest Directory Listings
Expand your business scale with over 200 million clean IP addresses, stellar features, and affordable prices provided by 922S5Proxy.
WWE Hub is a discussion forum for all things wrestling! Share and chat with other wrestling fans throughout the world!
ABCProxy is cost-effective, ethical residential proxies network!
