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Good morning Wayne and Jean Marie Zuhl. I would search out comps, even if they weren't in the area, as you are dealing with a unique property.
Contacting agents in other rural agents would also help.
Golden Meadow, LA
Rural communities are larger in size than urban communities, widen your search area and you will find other cabins that sold.
I would try to learn how good the area really is for hunting. Then I would research values of hunting cabins in other areas and try to gain an understanding of how valuable this location would be to hunters compared to alternative locations.
Wayne and Jean Marie Zuhl One, you can hire an appraiser or two, use the cost approach to market value. Cost of construction minus depreciation plus the value of the land.
I generally go a little further away (even 30 miles if needed) to look for comps and also will call a appraiser to get help in finding a market value. I have a good relationship with several and they are always helpful.
Yikes, I guess I would start with what you think the cost of the cabin is/was and how old it is, what condition it is in, how much property is with it...
You just need to find similar properties on other areas and, if needed, make a location adjustment.
Do you have any land comps you can use to price the land, and then adjust for the improvements? Look outside your area, too, where market conditions might be similar. You could also suggest the seller get an appraisal.
That is tough. I would go outside the area into a neighboring town and find homes that are simple and rugged and adjust away.
You have already received good advice. Use a professional, as we expect of home sellers and buyers. Mark
I had a very unique home years ago, where they added on, and lots of fabulous upgrades. I paid for an appraisal upfront. Still does not tell you what a buyer is willing to pay, but you can leave a copy out on the counter for prospective buyers.
I would probably talk with a local appraiser or pay for an appraisal.