- Jun 20, 2008
- Professional Status
- Certified Residential Appraiser
- New Jersey
A client wants a plot of land appraised as if it was subdivided into 5 vacant residential lots. Assuming its legally permissable, wouldn't I have to factor in the cost to subdivide, estimate the absorption period, decrease the land tax for each lot as its sold, apply a depreciation rate,.etc? Do I do 5 seperate appraisals, or 1 using the future value of the subdivided lots as of the estimated date of subdivision?