land valued at $7000 asking $24000? what shoud l bid?

**yaslysmen** · 02-06-2007, 06:50 PM

Hi, i am looking to buy some land and the tax accessor has the value of the land at $6950 and the seller is asking for $24000. What is a fair amount of money to offer the seller? The is .24 of an acre, there are no paved roads, they also have drainage problems in the neighborhood. I like the community, its close to work and in my price range. We live in San Antonio TX. Do I need to higher an inspector when Im just buying land?
Thanks,
Miriam

**Thesa** · 02-07-2007, 08:42 PM

tax assessment has little to do with true value in a lot of areas - check out other parcels how are they priced - get a Realtor - they can help you understand the real value

**ericbramlett** · 02-10-2007, 08:25 AM

Like Thesa said - tax value has little to do with true value, especially in Texas. Purchase price isn't public data in TX, so the county appraiser's assessment is nothing more than a "rough guesstimate." Any Realtor will give you a Comparative Market Analysis for the chance to write up the contract & earn their commission.