How do I get "real" market value estimate for my property when all real estate agents in small town are friends of my siblings? I do not live there.

We all agreed when our parents gave us the land that if we decided to sell our siblings would have first chance to purchase.

The real estate agent estimated price lower than other land sold for in the same area, plus, deducted the cost of fencing and clearing of land from the price which he felt the buyer would be out.

The lake front property is the last available in this area which should have great value. Other property not on lake is selling for thousands more per acre than the agent priced the lake front property.

I would love for my siblings to purchase my property, but, at full market value, not for a reduced price which reduces my inheritance.

You might consider hiring an independent, fee appraiser and get a professional valuation.

Market value is described as the price a willing seller will sell for and a willing buyer will buy for given enough time to expose the property to the market in your area.

If your siblings don't agree to exercise their first right to buy what happens then?? Would you be able to sell to another buyer???

Thanks for your quick reply.

Yes, I would be able to sell the property should my siblings not buy it, the market is hot in this area. People from Austin, Houston and other places are flocking into the area.

My lake property is the last raw ranch land (83 acres) available with water frontage & highway frontage. Property is 3 miles below Inks Lake in Hoover's Valley, other properties in valley already developed. Land on top of the mountain 1 mi. away has recently sold for $24,000-$30,000 per acre (10-20-30 acre plots no utilities)in a cedar/mesquite pasture area with no view of the valley or lakes by the same real estate agent.

My cousin sold land 1/2 mile south about 3 years ago for $6,000 per acre pasture land, no lake frontage.

My property was estimated at only $4,000 per acre for pasture land and $780 per running foot for water front. Water front was selling in the last 2 years for $1,000 per running foot.

You can see why I feel it was a low ball figure to benefit my siblings.