In need of land Appraisal

[fitnessguy]

Hello everyone. I was just curious about some land I bought a while back. Does anyone know how I can go about getting the land appraised to determine its current value? I have another thread on this forum entitled "I need a contractor in DR". I'm going to build condos on the land, but I'd like to get the land appraised before I construct anything.

FYI - the land is in Boca Chica DR. Thanks for any help with this.

 

[kfrancis]

Observation from the Frontier: Land Appraisal

Mi amigo,

See you are getting no answers to your request so thought I would give it a try.

First off, you are in a country of where the VALUE of land is really a realitive term.

Land Appraisals are a business factor related to the financial segment of the real estate transaction which depends upon reliable comparative data / records for the establishment of the base index.

This is very hard to come by in the Republica Dominicana at this point in time although continued computorisation of the land record system will eventually get us numbers to crunch.

However, land apprasials are used in the Republica Dominicana and we have had them done for our projects. I would recommend our's but he is in Barahona but I will drop by and see him tomorrow for any recommendations in your area.

This field has its own Association of Appraisors which puts out some quide lines and has list of who is in your area. Check with them. Will see if I can find some phone #'s when it is not 12:05 am.

But here is my suggestion. Go to two ( 2 ) different banks in your area, I would use BanReservas and one other, Popular lets say.

Go to the BANK MANAGER. Ask him / her for the names of two ( 2 ) Appraisors approved by the bank. When you have names from both both banks you have a starting place for who's rep is acceptable to the financial community in your area.

If you are lucky both banks might have the same name. Good place to start getting a price for your appraisal. This price will be neogiable as are most services rendered here.

Note: Remember to CLARIFY that you WANT A SELLERS APPRAISAL and NOT a " Bank Appraisal " from whoever does the appraisal.

Just as in other places where the appraisal system is used, Banks here have a formula for establishing their appraised VALUE and it will be DISCOUNTED from what THEY consider REAL Value to be.

A good appraisal will have site photos, what Comp might be available, court records ( title info, plats, etc. ) and some documentation about the appaisor and their credentials.

My thoughts,

kFrancisco de Cabral

 

[Hillbilly]

That is about as perfect an answer as I have ever seen!

This has the HB Seal of Approval no kiddin'

HB

 

[fitnessguy]

Mi amigo,

See you are getting no answers to your request so thought I would give it a try.

First off, you are in a country of where the VALUE of land is really a realitive term.

Land Appraisals are a business factor related to the financial segment of the real estate transaction which depends upon reliable comparative data / records for the establishment of the base index.

This is very hard to come by in the Republica Dominicana at this point in time although continued computorisation of the land record system will eventually get us numbers to crunch.

However, land apprasials are used in the Republica Dominicana and we have had them done for our projects. I would recommend our's but he is in Barahona but I will drop by and see him tomorrow for any recommendations in your area.

This field has its own Association of Appraisors which puts out some quide lines and has list of who is in your area. Check with them. Will see if I can find some phone #'s when it is not 12:05 am.

But here is my suggestion. Go to two ( 2 ) different banks in your area, I would use BanReservas and one other, Popular lets say.

Go to the BANK MANAGER. Ask him / her for the names of two ( 2 ) Appraisors approved by the bank. When you have names from both both banks you have a starting place for who's rep is acceptable to the financial community in your area.

If you are lucky both banks might have the same name. Good place to start getting a price for your appraisal. This price will be neogiable as are most services rendered here.

Note: Remember to CLARIFY that you WANT A SELLERS APPRAISAL and NOT a " Bank Appraisal " from whoever does the appraisal.

Just as in other places where the appraisal system is used, Banks here have a formula for establishing their appraised VALUE and it will be DISCOUNTED from what THEY consider REAL Value to be.

A good appraisal will have site photos, what Comp might be available, court records ( title info, plats, etc. ) and some documentation about the appaisor and their credentials.

My thoughts,

kFrancisco de Cabral

Thanks for the info KFRANCIS!! My patience finally paid off for some insight to my question.
Thanks to HB for the "Seal of Approval" as well. I will definitely look into this when I'm in DR. Can't wait, I'll be in DR in exactly 19 days!