3 Reasons Land Appraisals in the Bronx Aren’t as Simple as You Might Think
Most people understandably assume that vacant land must be easier to appraise than a property with a building on it.
After all, it’s just land, isn’t it?
The truth is, appraising land is often far more challenging than most other property types. There are three main reasons for this…
Let's talk—get answers to your questions including info on appraisal pricing and timing.
Call for your price quote (takes just 5 minutes):
(718) 989-8513
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They were totally professional and always accessible. Brian was available every time I had a question. He showed great patience in obtaining the necessary information to make a really accurate appraisal which encompassed numerous pages that informed and explained his methods and conclusions.
#1 of 35 reviews
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Service was quick, detailed and tailored to what we needed and asked for. Price also very reasonable. Could not be happier.
#2 of 35 reviews
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Quick response to all correspondence, timely arrival and received my report well within the expected time frame. Very highly recommended.
#3 of 35 reviews
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My experience with this firm has been an excellent one. They are helpful, responsive, efficient, and personable. I highly recommend their services.
#4 of 35 reviews
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The firm is well educated in the valuation of commercial space. They were professional in every way. They were extremely responsive to my client and the lawyer in my office assigned to the litigation for which an opinion was sought. I highly recommend them.
#5 of 35 reviews
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I had a most positive experience with Brian, who was courteous, informative and immediately followed up with any inquiries I had. The appraisal and report were executed in a timely manner. I would definitely recommend this company.
#6 of 35 reviews
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This is the third time that my company is using this appraisal firm. We have found them to be extremely detailed and professional. Recently I needed an urgent appraisal. Brian promised me a “turn-around” at a very short notice to his office. He has delivered. I like how they do business, professional, detailed, quality work and with great efficiency.
#7 of 35 reviews
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Five stars for me. Brian and his team were super helpful in getting a complete appraisal for a building I was looking to sell. He answered all my questions and the turnaround time was pretty quick. Highly recommend.
#8 of 35 reviews
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Great service. Very thorough and diligent.
#9 of 35 reviews
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Brian provide excellent service with timely turnaround preparing a very thorough appraisal report.
#10 of 35 reviews
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I highly recommend the professional appraisal work of Brian & Steve. They are easy to communicate with and produced a comprehensive report us! They will be my “go-to” for future projects.
#11 of 35 reviews
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Very responsive and professional. I’m a developer.
#12 of 35 reviews
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Very professional and efficient. Would definitely recommend. Brian is very nice to deal with.
#13 of 35 reviews
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Best commercial appraisal company! Fast, professional, knowledgeable.
#14 of 35 reviews
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Great to work with Brian. Prompt response. Reasonable pricing. He even advised me on a property without charging, would definitely use them again.
#15 of 35 reviews
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Thank you for your professionalism, another great job done and at the right cost. Highly recommend.
#16 of 35 reviews
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Brian and his team are excellent professionals of integrity. They provide exceptional service and are very responsive to the needs of their clients. Specifically, Brian worked very closely with my company to get a detailed appraisal completed in immediate fashion. They will be my select appraisal firm and I highly recommend their services.
#17 of 35 reviews
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We feel so fortunate to have found this company to assist us in appraising our property. Our appraiser, Brian was incredibly professional from start to finish. A pleasure to work with! I highly recommend using Brian for his high level of dedication he puts into his work.
#18 of 35 reviews
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Professional and courteous.
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Why Land Appraisals Are Complicated
The first reason is related to the ‘highest and best use’ analysis. This is a part of every appraisal, no matter what the property type.
Stated simply, this is a process to determine what use of the property would yield the highest value.
For example, can it be used as retail, office, industrial, multi-family, etc.? How big of a building can be built?—all based on zoning, building codes and numerous other complex considerations.
The thing is, when a property already has a building on it, usually the current use is the highest and best use. So the appraiser doesn’t need to spend much time on it.
But when appraising vacant land, a thorough highest and best use analysis must be performed.
This is a complex and time-consuming process, upon which the credibility and reliability of the appraisal depends.
The Problem With Vacant Land Sales
The second reason appraising land is often more challenging than other property types, is the scarcity of comparable sales, or comps.
In most areas, there are very few vacant lands sales, even fewer recent sales, and fewer still, sales of similarly-sized and similarly-zoned parcels of vacant land.
As such, the appraiser must spend substantially more time researching and analyzing comparable sale data.
Extensive analysis is required to make accurate, market-derived adjustments to those sales to account for the inevitable differences in important characteristics such as location, size, shape, topography, frontage, available utilities, time/market conditions, zoning, etc.
Many Appraisers Avoid Vacant Land Appraising
And the third reason is the result of the previous two—many appraisers are reluctant to take on vacant land appraisal clients. They’d just rather take on easier appraisal assignments.
As such, if you’ve ever looked to hire an appraiser to appraise a piece of land, you’ve probably noticed that it can be surprisingly difficult to find someone who wants to take the job. And if they do, their fees can be outrageous.
This is why you want to find an appraiser who has extensive land appraisal experience. Such a person is most likely to get the job done correctly, and won’t charge you an arm and a leg to do it.
Vacant land owners in the Bronx rely on us because
- We’ve done thousands of land appraisals
- Each of our appraisers has 15+ years’ experience
- We are NY State Certified General Real Estate Appraisers
Give us a call today! We’d love to discuss your appraisal needs.
Let's talk—get answers to your questions including info on appraisal pricing and timing.
Call for your price quote (takes just 5 minutes):
(718) 989-8513
-
They were totally professional and always accessible. Brian was available every time I had a question. He showed great patience in obtaining the necessary information to make a really accurate appraisal which encompassed numerous pages that informed and explained his methods and conclusions.
#1 of 35 reviews
-
Service was quick, detailed and tailored to what we needed and asked for. Price also very reasonable. Could not be happier.
#2 of 35 reviews
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Quick response to all correspondence, timely arrival and received my report well within the expected time frame. Very highly recommended.
#3 of 35 reviews
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My experience with this firm has been an excellent one. They are helpful, responsive, efficient, and personable. I highly recommend their services.
#4 of 35 reviews
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The firm is well educated in the valuation of commercial space. They were professional in every way. They were extremely responsive to my client and the lawyer in my office assigned to the litigation for which an opinion was sought. I highly recommend them.
#5 of 35 reviews
-
I had a most positive experience with Brian, who was courteous, informative and immediately followed up with any inquiries I had. The appraisal and report were executed in a timely manner. I would definitely recommend this company.
#6 of 35 reviews
-
This is the third time that my company is using this appraisal firm. We have found them to be extremely detailed and professional. Recently I needed an urgent appraisal. Brian promised me a “turn-around” at a very short notice to his office. He has delivered. I like how they do business, professional, detailed, quality work and with great efficiency.
#7 of 35 reviews
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Five stars for me. Brian and his team were super helpful in getting a complete appraisal for a building I was looking to sell. He answered all my questions and the turnaround time was pretty quick. Highly recommend.
#8 of 35 reviews
-
Great service. Very thorough and diligent.
#9 of 35 reviews
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Brian provide excellent service with timely turnaround preparing a very thorough appraisal report.
#10 of 35 reviews
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I highly recommend the professional appraisal work of Brian & Steve. They are easy to communicate with and produced a comprehensive report us! They will be my “go-to” for future projects.
#11 of 35 reviews
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Very responsive and professional. I’m a developer.
#12 of 35 reviews
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Very professional and efficient. Would definitely recommend. Brian is very nice to deal with.
#13 of 35 reviews
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Best commercial appraisal company! Fast, professional, knowledgeable.
#14 of 35 reviews
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Great to work with Brian. Prompt response. Reasonable pricing. He even advised me on a property without charging, would definitely use them again.
#15 of 35 reviews
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Thank you for your professionalism, another great job done and at the right cost. Highly recommend.
#16 of 35 reviews
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Brian and his team are excellent professionals of integrity. They provide exceptional service and are very responsive to the needs of their clients. Specifically, Brian worked very closely with my company to get a detailed appraisal completed in immediate fashion. They will be my select appraisal firm and I highly recommend their services.
#17 of 35 reviews
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We feel so fortunate to have found this company to assist us in appraising our property. Our appraiser, Brian was incredibly professional from start to finish. A pleasure to work with! I highly recommend using Brian for his high level of dedication he puts into his work.
#18 of 35 reviews
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Professional and courteous.
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