So, what is considered raw land? The answer to that could be as simple as untilled, undeveloped grounds outdoors. But the more detailed (yet, still simple) answer for that person who likes their news straight forward is: vacant lots in urban neighborhoods, empty desert land near Vegas, acres full of grass on rural roads, and the wood grounds behind your house that nobody ever wants to go into. Even, you wouldn’t follow your dog into it if she was Lassie—it’s just too scary. And that’s how raw, raw land can be. It’s quiet and uninhabited; it’s untouched. And just like all things that have never been touched, raw land has value in it.
How to Determine the Value of Your Raw Land
One of the easiest ways to assess the value of your land is to contact an expert land investor. A land investor has the knowledge, the experience, and the time to get a correct assessment of what your land is worth. Not only that, but if your interest in what your land is worth is because you’re looking to gain a profit from its value, the land investor will be able to offer you a cash settlement and an all-expenses-paid closing in a quick sale. That is, one where your liens, back property taxes, and closings costs are all paid for on your behalf.
If you’re more of a do-it-yourselfer, you can contact your county’s assessor’s office on your own. But, keep in mind that the assessor’s office’s land values will be based on a figure that is eighteen to twenty-four months behind the actual value of your land. And, though, this isn’t necessarily information that is as helpful as it could be, the assessor’s office is still good to compare the value of other recent land sales in your area. If you’re willing to do the research, you can use that information to try and estimate what yours might be worth, too.
If you want to avoid making phone calls to government offices and hope to be able to rely on a professional to tell you what you need to know, you can seek counsel from a realtor who can inform you of what the fair market value of your land is.
Or, lastly, consulting a professional appraiser is also an option. An appraiser will take data from both the assessor’s office plus recent sales in your area and officially calculate the value of your land for you.
Whichever route you take, know that knowledge is power. And, in this case, knowledge can equal cash!