Farm land appraisal

[kmoneil]

Hello everyone! I'm in need of some help. We're wanting to sell some land in Oklahoma. I want to make sure that I'm getting the most for property, its farm land, pasture.. etc. No house on the land.

We're in a family dispute on the property and some of the family wants to purchase the land from us, so we want the most of the property and they want it lower so they could purchase the land from us. Seems like everyone would have a different number in the value, but you would hope they would be very close to each other.

Are there different types of certified appraisers or can any appraiser appraise land?
Are there different methods? If so, what would be the best method?

Thanks!

 

[Michigan CG]

http://portal.asfmra.org/Scripts/4Disapi.dll/4dcgi/asfmra/find/index.html

This organization has the best education for farm appraisers. If there is not a local appraiser through this site then use the site below. You want a Certified General Appraiser for this assignment.

http://www.appraisalinstitute.org/findappraiser/default.aspx

 

[kmoneil]

Maybe this is a crazy question, there are some listed on the asfmra.org, and some have AFM, ARA...etc and some don't.

Is one better than other?

 

[Restrain]

Please note that there is a definite difference between appraising a property as an operating farm and as farm land. One is based on the operating business, the other on the basis of market value. If it's just land, possibly leased out for hay, etc, then any local appraiser should be able to give you a good estimate of value.

 

[Farmland]

AFM = Accredited Farm Manager
ARA = Accredited Rural Appraiser

ASFMRA members that are Certified General but not an ARA could also do a good job.

PM me with your farm location, I know a couple good farm appraisers in OK, if you're interested.

 

[joe huffman]

Where O Where

Where at in Oklahoma.

 

[EDWARD BERRY]

At Least Use A Asfmra Candidate With A "professional" Status.

If It Is Over, Say 120 Acres, One Need To Use The "soils Map" Method.

Good Luck, Arkie Ed

 

[Terrel L. Shields]

Local knowledge will help you the most.

First, agricultural properties in OK vary from peanuts / pecan orchards in the south to dryland ranches in the panhandle and west.

There is an element of hunting leases to consider in most areas (Quail in Roger Mills Co. for instance) and the biggie is do you have the oil and gas rights? If you do, then that can be a really big issue. The "old" oil areas (Cushing, Nowata Co., etc.) tend to have stable land values but the landowners rarely own the mineral rights. In new areas where unconventional gas plays are in place (say, Coal or Choctaw C.) its a whole different world and borders on a mania.
As for the land. E. OK is hills and flint rock. Mid-OK is the cross timbers and N & NW OK are the high plains. Ed. ASFRMA members are scarce as hens teeth in E OK and you'd be better off finding a local Cert. General. The best way is to google up a small town bank near the subject and ask for their farm loan officer. Ask him or her who is the best appraiser for farmland around. They can give you some names.

 

[kmoneil]

Thanks everyone!

Where at in Oklahoma.

Around Alva Oklahoma.

 

[Terrel L. Shields]

Ranchland / farmland and potential for oil and gas - find someone in that region with CG license and farmland experience