RealTown's RealTalk

 Re: I am working on getting a listing on a home that is on a large lot that can be split. It has good views. I have proposed that we list the house on the whole lot, the house..

Appraiser’s advice: Be aware that the value of the whole does not equal the sum of the parts. Typically, buyers pay less for ‘extra land’ than what is paid for a buildable lot. In the past when I’ve had ones like this, I have priced it several different ways, but usually have advised the sellers NOT to sell the lot first because the buyer of the house may want it and be willing to pay a premium. It is usually worth your time as an agent to pick an appraiser’s brains. I’m both an agent and an appraiser, and I don’t mind answering questions from other agents at all.

Melanie J. McLane, ABR, GRI, CRS, CRB, RAA, SRES, OA, ePRO. Serving North Central Pennsylvania's Real Estate needs since 1975, as an agent, appraiser and educator.   For real estate listings and sales, contact me at Fish/GMAC Real Estate, 570-326-1561, or 570-660-9672 (direct). Licensed to sell real estate in Pennsylvania. For appraisals, contact me at Evelyn Jackson Appraisal Services, 570-398-1201.  Certified Residential Appraiser in Pennsylvania. For real estate education and consulting, contact me at 570-398-1201 or 570-660-9671, or visit my website: www.TheMelanieGroup.com