What Is a Land Appraisal — and When Do You Need One?
A land appraisal estimates the market value of vacant or undeveloped land. It is different from appraising a house, because there is no building to compare — the value comes from the land itself.
How appraisers value land
Appraisers look at recent sales of comparable parcels, zoning and permitted uses, size and shape, access and services (road, water, hydro), topography, and development potential.
For land with income or development potential, the analysis can be more detailed, factoring in what the land could reasonably be used for.
When you need a land appraisal
Buying or selling vacant land or an acreage; securing financing or a construction loan; estate settlement or dividing assets; capital gains and tax matters; expropriation or a right-of-way; or resolving a dispute.
Getting an accurate land value
Land valuation requires local market knowledge and the right designation. Appraisal Canada connects you with appraisers experienced in land and rural property across the country — request a free quote to get started.