PURCHASE PRICE DETERMINED BY ACREAGE
How the price is determined using acreage
The property purchase can only be done by giving the amount that it costs to the seller. The purchase price of the property is generally decided on per acre basis. This is true for the lands that are bought in bulk. Such properties are generally located in the outskirts of the city, the rural area, the land suitable for agriculture or in the hilly region.
The price of the land varies depending on
- The location of the land: if the land is located in a hilly region its purchase price is lower than that present in the regions that are closer to the city.
- The amenities: if there are certain amenities already present such as electricity, water, sewer, etc. then the price of the land increase considerably but if these amenities are absent then the prices remain low.
- The state: the price of the land also decreases as per the state it belongs t. Some states have land a lot in demand and that increases the purchase price determined by acreage considerably.
The purchase price determined by acreage is decided upon only after a surveyor who is certified carries out a survey of the land. The surveyor makes the demarcation of the boundaries of the land in question and thus makes it possible for the buyer to identify the land being bought. Any portion that is inhabitable or is to be left out for the street or utility or is under the stream or is below the level of the stream is counted out of the deal and the remaining are is calculated for its price.
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