How to Appraise Waterfront Land

by Heather Hanlon ; Updated July 27, 2017
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Waterfront land appraisal differs from other land appraisal types. Waterfront land often carries a much higher value than land even a few blocks away from water. If you are simply trying to get a general idea of calculation methods in an area, you can check local guidelines for waterfront appraisal. If you are looking to sell a property, however, enlist the expertise of a formal appraiser or real estate agent with experience working waterfront properties in the area.

Step 1

Contact a local real estate agent if you are simply trying to get a feel for how to value waterfront property in the area. Ask for references, and ensure your agent has experience in this regard. Different areas will value waterfront property differently. For example, in Austin, Texas, waterfront property is valued based on the acreage on the waterfront. But some areas may value just based on feet of actual waterfront regardless of acreage.

Step 2

Ask the agent how waterfront property is generally calculated in the area. She should be able to provide a very basic rule-of-thumb method.

Step 3

Contact an appraiser for a written appraisal if you are interested in selling your property. Appraisers use scientific methods to come up with a value for land and any property that sits on it. Appraisers typically charge a few hundred dollars for a written appraisal.

Step 4

Contact a real estate agent and ask for a comparative market analysis of the property. A real estate agent uses market data to come up with a value for your property. She should provide the appraisal free of charge.

Tips

  • Ask for referrals from friends or family to a good agent, or contact the local Board of Realtors to locate an agent with expertise in waterfront property.

    An appraiser's pricing should be similar to a real estate agent's. However, most real estate agents will work with you with the eventual hope of listing your property for a commissioned fee.

About the Author

Heather Hanlon has been writing since 1994. She has worked as a technical writer, trainer and has developed websites for private clients. She is also a real estate agent. Hanlon holds a Bachelor of Arts in news writing from the University of Pittsburgh and a Master of Arts in professional writing from Carnegie Mellon University.

Photo Credits

  • gorgeous waterfront property image by Leticia Wilson from Fotolia.com