Land Value Estimator

A broader analysis that encompasses a wider range of variables must be studied by an appraiser when calculating values for vacant land. One of the key considerations is determining what the land can be used for, or the feasibility of the specific planned development. Once the ‘highest and best use’ is determined, the standard sales comparison method is used for market analysis.

Vacant land appraisals require more detailed information and a high level of expertise that may include trends in new construction and research on competitors in similar development markets in order to provide accurate cost and profit analysis reports.

Land Appraisal Service

Residentially zoned real estate in Richmond Hill often requires the qualifications of an experienced and licensed appraiser to provide a detailed market evaluation prior to, or during development. Assurance Appraisals Inc. offers specialized services that include appraisals for both vacant land and agricultural land in the Richmond Hill region that can be customized for:

• Purchase/Sales
• Development feasibility analysis
• Litigation
• Condemned buildings and lots

Zoning Research

Assurance Appraisals Inc.’s qualified experts begin research on zoning regulations laws in the specific areas to properly verify whether vacant land is listed as residential and rural properties to ensure that no building plans or approvals are already placed on the property.

Sales Comparisons

Unlike sales comparisons used in standard residential and commercial real estate market evaluations, Assurance Appraisals Inc. appraisals for vacant land in Toronto reflect figures which are generally calculated at price per square foot, or price per ‘buildable’ square foot. According to the applicable laws and regulations in each Toronto region.

Land Development

If your land is already under development a Assurance Appraisals Inc. appraiser can provide development cash flow evaluations which factor in construction costs and other expenses. Some examples being, insurance, real estate property taxes and developer and commercial owner profits and/ or lease commissions.

Adjacent Properties

Data on adjacent properties and any planned development in the area may also affect and/or increase the valuation for vacant land, particularly if property nearby is being purchased for expansion or additional development.

Agricultural Land Appraisers

Our appraisers are recognized by the region’s major lenders and financial institutions. Assurance Appraisals Inc. maintains a full database of both urban and rural land properties in Toronto. We provide reports ranging from a full narrative to shorter form. For more information on agricultural land appraisal services please give us a call.