The following is an article from News.au.
It contains information about the sale of land for a fee, for example, if you’re considering selling a house, it may be worthwhile to do so before considering a land purchase.
Land for Sale for Sale Land for sale land for rent or mortgage land for resale (for example, for an investment property) For a short-term purchase, it is advisable to do a full market valuation to assess your property’s value.
For an ongoing purchase, you may wish to do more thorough appraisals, such as a detailed survey.
If you do a detailed appraisal and find a property’s worth is greater than the amount you’re paying, it’s usually worth more.
For example, a 10-bedroom house with a market value of $7.8 million would be worth $3.5 million.
However, if the house was valued at $2 million and sold for $2.5, it would have a value of less than $1 million.
So, the best approach to assess a property is to do the market value and then estimate how much it is worth to you.
The value of a property may vary depending on its location, the time it’s been vacant and whether you’ve been using it.
When it comes to a property you’re selling, consider all factors including how long it has been vacant, its location and the cost of maintaining it.
For more information on property sales, read our Property Sales article.