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Updated over 5 years ago on . Most recent reply

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Janel Reaves
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Land in South Carolina

Janel Reaves
Posted

I have a family member who is selling their land in a very small town in of South Carolina.  She wants it to stay in the family, so she is selling it for a low price (so no loan is needed). However, I do realize we will have to pay taxes on the land. I'm trying to figure out if it's worth it?? I was thinking we could put a small house or trailer on the land and rent it out. Any thoughts? 

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John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
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John Underwood
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
Replied
Land can be tricky to value.
See if something similar has sold in the area and for what price?
What is the tax value listed as? This can be a starting place but can be way off.
You could get a BPO (Broker Price Opinion) from a realtor.
  • John Underwood
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