OfflineIs there a way to get the FMV on an empty lot? and commercial buildings also. I have a empty lot in a good area, the seller wants alot of money for it, but i would love to find the FMV of it to use as a bargaining tool, I have a deloper as an end buyer but i know the price is too high, The seller said he was negotiable but i dont have a clue on how much a lot would be worth.
On 2 commercial properties, i tried totalview but it cant find either. I know they exist because they are big buildings in big cities.
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You may have already tried this; how about an REA to pull comps. It would be difficult if the area is densely populated and not many lots sold but may be worth a try.
Thanks, but there are no empty lots in the area, It is a very busy area and alot of buildings. I am going to see if i can go to city records and see what he paid for it.Then i can go from there. I just have to figure out the address/lot number.
One other thought, try insurance companies. They have to calculate replacement costs and the difference would be property value. I would imagine they have their own slant in the pricing but you could compare that with the city records to put a FMV on it. Just an idea.
On commercial do you mean apt building, Or just a warehouse ,shopping center?
Rick, one is a mixed use and the other is apartments.
When you try to get the FMV on apt its different than single family homes its a long process to explained but you will have to look at many factor especially at the rent roll and annual expenses.
Send me a PM with more info about the Lot.
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