My parents own some vacant land in Moree (2 lots, 1,210 square metres) which is said to be in a very convenient location right on the corner of two streets (it would be possible to build 2 homes on it and have each one on a different street). The land is almost across the road from a hotel, walking distance to Moree train station, walking distance to the big swimming pool in the area... while there's also a golf course, parks, river, & other businesses/shops all within 1km of the land. They are thinking of selling it as I'm not sure they can afford to build anything on the land (although I'd be curious to find out the costs to build something on it and seeing whether this would be more worthwhile rather than just selling it)?
They bought the land about 13 years ago for something like $20,000 but tell me the land was valued only a few years ago by the council at around $15,000 while an agent valued it at around $70,000 which is quite a significant difference - who do you believe? I'm trying to help them sell it at very little cost to them....but am also not sure how to go about it with the council and agent's value being so different. But am also wondering if it's better to have something built on it? I should point out that we live in the city and we don't spend any time in the area so am a bit clueless as to what the best solution might be?
They bought the land about 13 years ago for something like $20,000 but tell me the land was valued only a few years ago by the council at around $15,000 while an agent valued it at around $70,000 which is quite a significant difference - who do you believe? I'm trying to help them sell it at very little cost to them....but am also not sure how to go about it with the council and agent's value being so different. But am also wondering if it's better to have something built on it? I should point out that we live in the city and we don't spend any time in the area so am a bit clueless as to what the best solution might be?