Cost of Land per acre?

reesegrace1

I am looking at buying a small piece of land from my sister & she don't know how much to ask for it & all i know is what i googled online value of land.
After the death of our dad, my sister inherited the home & 3.5 acres of land right next door to me.
I have asked to buy about an acre of the land, the section in the woods at the bottom of the hill, in the woods, it might not even be an acre, my son guesses it is maybe 3/4 acre.
It is cow pasture land & it's woods, trees & hill. The only reason i am wanting to buy it is because my family I have ATVs & a couple of our favorite riding trails go thru that little section of woods. And my sister is putting the home & land up for sale, & to be able to keep riding thru there, i want to buy just that part of the land.
Does anybody know the value of land or any websites or apps i can look up value of land?
This land i'm talking about has no road frontage, can't do anything with it. It was once cow pasture land, & never been graded or leveled off. It's hill & woods.
I seen online that value of land in woods can be worth up to $2500. to $3000. per acre and i think even that is talking about flat smooth land in woods.
What price can i offer my sister?

Sunshine_And_Sand

Does your area have a website that you can use to look up the appraisal value of the land? In my area you can look up any address and see the appraisal value, but this includes any structures on the property so the value of her house would be added in with this (at least the one we can use for my area). It can be useful when you are looking at property to see if what the people are asking is in line with what the property is worth.
As far as price per acre, that's going to really vary per area. Where I live, I'd consider $3000/acre to be pretty cheap, and we have a fairly low cost of living compared to most places.
It's probably a good idea to talk to a real estate agent about this as well. They can give you an idea of what comparable properties in your area are bringing per acre.
You could also just ask your sister what she wants for it and see if you are willing to pay that for it. I'd be sure and have it surveyed though to be sure you know exactly how much you are getting and know your property lines to avoid a mess with whoever buys the rest of the property.
Good luck!

TheRoadDog

https://www.youtube.com/watch?v=mjgFc6Pg1KM

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InspectorRed

It's definitely going to depend on where you are located. Another thing to consider is if the area is zoned; if the piece you want has no road access that can be an issue when it comes to separating it from the existing parcel. I would start with the county appraiser, a lot of county appraisers have websites that you can utilize to get the appraised value which is a good starting place. If your county doesn't have a website, you or your sister can request the appraisal value of the land. Another option would be to check zillow.com; you can find similar properties for sale and even recently sold properties.

ythannah

Where I live the property would have to be legally subdivided so that your parcel is separate from the one your sister intends to sell, adding about $15K to the bill. That may or may not be the case for you.