Good Morning All!
I'm looking for a "rule of thumb". I have a client with an appraised piece of property. He has gone thru getting site plan and building plan approval. Now he wants to sell the project.
How much would the appraised price of the land increase (as a percentage) withe the site and building plan approval? I would appreciate any input from projects any of you had done.
Thanks
Paul
Yikes!...I think I'd have to have it re-appraised to get a value...Enjoy the day.
There is no rule of thumb in today's market especially. It really depends when the appraisal was done and for what purpose. If it was done for marketability and was within the past year, I say you are close. If it was done for anything other than marketability and/or over a year old, than I agree fully with Ernie #1.
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