FHA excess/surplus land. Rural.

[TerryRohrer]

Thanks! So, no survey. You just state in the appraisal report and grid the number of acres that is typical for the area and say that you gave no value towards the Final Value Estimated for more than X acre for the purpose of the appraisal report. I was thinking that the X acre would need to be surveyed off. How else would the homeowner and lender know exactly where the X acre out of X acres is exactly especially if it went into foreclosure. I guess I was making it more complicated this it is. Thanks again.

This approach does not comply with what I recall reading in USPAP years ago. You might want to search the FAQs and find the parts about "mortgage tracts." Just because FHA and FNMA don't care about whether or not you comply with USPAP doesn't mean the board regulating your license won't.