Common use of Land Valuation Clause in Contracts

Land Valuation. The area market was observed for other vacant land sales that were similar to the subject site, as if vacant and available for development. A detailed analysis of the five sales used is given as follows. A summary table is located below. SUMMARY OF VACANT SITE SALES Address Sale Site Size $/Unit Units/Acre Date Price (Square Feet) Land Sale 266 Junction 3/94 $438,333 265,312 $3,653 20 #1 Madison Land Sale 6009-29 Cottontail 11/93 $420,000 158,060 $7,500 15 #2 Madison Land Sale 202-10 Junction 10/93 $421,000 254,750 $3,661 20 #3 Madison Land Sale 1606 Cottontail 12/9▇ $▇▇▇,▇▇▇ 140,289 $4,500 20 #4 Madison Land Sale 7402 Watts 11/92 $1,▇▇▇,000 597,927 $3,943 20 #5 Madison Analysis of Sales The subject's lot area is 848,224 square feet as taken from the included surveys. For the subject, this would indicate a density of 16.34 units per.