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They had to pay twice to have their propertyvalued. Because in both instances, they first had their homesvalued by real estate agents, not appraisers. In the other case, my client’s attorney recommended having their marital property appraised. All three are market-based approaches. That’s right!
Owning raw land has real potential along with its share of pitfalls. Whether you decide to hold it and sell when realpropertyvalues climb or -- alternatively -- develop the lot to convey at a higher price, you are subject to forces of market, timing and competition.
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