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Farmland

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Scott McCallum

Sophomore Member
Joined
May 18, 2006
Professional Status
Certified Residential Appraiser
State
Illinois
My spouse's mom owned a farm in Illinois and died earlier this year. The appraiser came out about a week after to value the estate. The attorney who retained the appraiser for the estate is stating that the appraisals are still not completed and appraisals cannot be completed without title work on the parcels. Is this so?
 

Meandering

Elite Member
Joined
Feb 26, 2006
Professional Status
Real Estate Agent or Broker
State
Pennsylvania
Depends. But it sounds probable, especialy if there were leases with options and/or easements.

.
 

Scott McCallum

Sophomore Member
Joined
May 18, 2006
Professional Status
Certified Residential Appraiser
State
Illinois
Depends. But it sounds probable, especialy if there were leases with options and/or easements.

.
There are no leases, or options. The land is owned free and clear by the estate and has been in the family for generations.
 

Michigan CG

Moderator
Staff member
Moderator
Joined
Nov 1, 2006
Professional Status
Certified General Appraiser
State
Michigan
I have never needed title work to complete a farm appraisal.
 

Gobears81

Senior Member
Joined
Nov 7, 2013
Professional Status
Certified General Appraiser
State
Illinois
Is there something different about this tract(s)? Did you ask why they are holding out for it?
 

RebelNYC

Junior Member
Joined
Aug 6, 2009
Professional Status
Certified General Appraiser
State
District of Columbia
It would seem the probable reason for the request, particularly if the land has been owned by the same family for many generations, is that the appraiser is uncertain what land is actually being appraised. While for many uses, an appraiser can estimate the site area, this is one of those things that can be an issue if it goes to court. In many jurisdictions, the executor won't be able to do much until the title search is done. I think that regardless, it is something that you should have.
 

PL1957

Senior Member
Joined
Jul 19, 2004
Professional Status
Certified General Appraiser
State
Illinois
Is there something different about this tract(s)? Did you ask why they are holding out for it?
He's probably holding out because he's backed up and late on the assignment. He's grasping at straws - in IL there's no reason for delay.
 

RebelNYC

Junior Member
Joined
Aug 6, 2009
Professional Status
Certified General Appraiser
State
District of Columbia
He's probably holding out because he's backed up and late on the assignment. He's grasping at straws - in IL there's no reason for delay.

Perhaps you can explain to this appraiser how I can go about identifying a particular tract of farmland in the State of Illinois? I personally have had difficulty getting any public records about sites in rural locations, and these were hotels.
 

PL1957

Senior Member
Joined
Jul 19, 2004
Professional Status
Certified General Appraiser
State
Illinois
Perhaps you can explain to this appraiser how I can go about identifying a particular tract of farmland in the State of Illinois? I personally have had difficulty getting any public records about sites in rural locations, and these were hotels.
Let's see ... I can look at tax bills, legal descriptions, plat books, lots of different ways ... I've always found rural assessors tremendously cooperative, as long as I don't play big city and show up wearing a suit ...
 

Michigan CG

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Joined
Nov 1, 2006
Professional Status
Certified General Appraiser
State
Michigan
He's probably holding out because he's backed up and late on the assignment. He's grasping at straws - in IL there's no reason for delay.

I think the above is what is really happening. I never had a hard time finding anything in Illinois years ago.

... I've always found rural assessors tremendously cooperative, as long as I don't play big city and show up wearing a suit ...

My mentor always wore boots and jeans to farm appraisals.
 
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