Why might a landlocked property (agricultural land) that's assessed at only $600 be selling for $51,000 when similar properties nearby are way cheaper

The property we were first interested in is landlocked with a deeded right of way through the neighbor's yard. It has no well or septic, or anything apparent that might increase its value. It is assessed at only $563 (down from $575 from 6 months ago), but it is selling for $49,900.

Other nearby properties that aren't landlocked don't have such a discrepancy between the assessed value and the market value.

Why might the difference between the assessed value and the market value of this property be so large?

Can/do people ever negotiate based on assessed value?

[If we are still considering the property, and it is still available after the snow melts, we will have it appraised and negotiate based on that.]
(0) | asked by: Anonymous | share | 7 months ago | Report
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If the land has a "deeded right of way" then it is no longer landlocked. Also remember that the assessed value is different than the market value. It is impossible to know for sure why nearby properties are showing a different value without further information on the subject property. Possibly, the deeded right of way was not in place when the property was last assessed?
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