Guests - If You want access to member only forums on FM. You will gain access only when you Sign-in or Sign-Up on Fishing Minnesota.

It's easy - LOOK UPPER right menu.

Sign in to follow this  
Followers 0
jjr

Purchasing land - est value?

7 posts in this topic

Looking to buy some land from a private party (buildable lot, non lakeshore, near small town in Northern MN). Wondering where to start on getting an estimated value of the land (less than an acre)? Is getting the land assessed or surveyed a good idea or what else to start?

Thanks for any information

Share this post


Link to post
Share on other sites

IF the lot you are buying is currently taxed as its own parcel, you can start by finding the value in which the county taxes it for starters. Also do some comparisons for the surrounding area. The price they are asking in most cases will be quite a bit higher than the tax value as long as it is vacant. Good luck.

Share this post


Link to post
Share on other sites

Coach1310 good tip.

About surveying. Property lines tend to move. Yes its a good idea, especially if your building.

Share this post


Link to post
Share on other sites

If you have the property address or description, you can also find out when the seller purchased the property and how much they paid.

We looked at a similiar-type lot this summer. The listing price was $17,900. We found out that the seller had purchased the property in June for $4,500.

Share this post


Link to post
Share on other sites

Have you checked the local zoning? You say it is a buildable lot. You can't build on less than an acre in a lot of locations. That would certainly drop the value of the property.

Share this post


Link to post
Share on other sites

Having the parcel surveyed if it isn't already is a good idea. You could, as a part of the purchase agreement, split the cost with the current owner.

The survey cost will depend on where the nearest established monuments are. If there are none near by the survey could get spendy. If you think you may want to have it surveyed you may want to check with a local land department (most likely county) for what type of monuments/corners are in the area.

Share this post


Link to post
Share on other sites

I own a lot that's a similar size. I later found out the township had different zoning restrictions from the county. It is zoned recreational no structures can be built including a shed until a home is built. A house requires a larger lot size. I can only have movable items on for a certain amount of time per year. Check with local zoning, county zoning, and meet any neighbors who own abutting property. Also check with the county (road right of ways) and utilities companies on easements. Access to your property if it's not on a road is another big one.

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.
Sign in to follow this  
Followers 0



  • Posts

    • Rancid Crabtree
      I scored a set of Striker Hardwaters for 25% off   bibs+coat. I fish early ice alone, decided to pull the trigger on a warm suit that can float if I end up breaking thru.  That crowd was insane. Happy to see the big turnout. All of the TV dudes were roaming around too, talking with ppl and taking pics. Had a great time and I'm happy to see how big the ice fishing community is getting. Just stay away from my holes!!!     jk. Looks like we could be gaining up to an inch of ice/day in metro lakes if this forecast holds. 
    • Big A
      That ion x does look sweet! Not sure if I can justify the switch from my current ion... what was your out the door cost?
    • vanwalleye
      I was thinking the same thoughts, I saw the pond by my house locked up, figure someone will be sitting in front of the courthouse before you know it..
    • Jim Uran
      I have to add that my buddy has had the Eskimo propane auger and loves it, he has a season and half using it and it hasn't given him any problems. 
    • Jim Uran
      I've had an Eskimo Shark for a few years and I love it, I'm not a fan of the aluminum handles on it, they have given me an issue or two but customer service is outstanding. Can't comment on the EVO, other than  I think they are gimmicky, but I love their six sided insulated hub. Works great for my family trips or just going out by myself. Sets up easy and there is a ton of room.