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Land Appraisal Template

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Sean Wilson

Freshman Member
Joined
Sep 2, 2003
Professional Status
Certified General Appraiser
State
Georgia
Hey Guy's I am trying to get more familiar with land appraisals and would like to know if someone could PDF me a land template. to appraise2@yahoo.com
thank you very much for your assistance.
 
Sean,

If you have an appraisal software package (WinTotal, Clickforms, ACI, etc.), there should be one in the program. If you do not, anyone consorting with you to use the forms without owning a license, might violate copyright laws and cause the sender to lose the license on their package. Just MHO!
 
Robert,

I think the poster is asking for a filled out land appraisal to get an idea on the methods, narratives and general data included in appraising undeveloped land.

If that's the case, I posted one somewhere but I can find it now. PM me and I'll send you a redacted copy of one of mine. Just don't put too much stock into it. :huh:
 
What were we saying about our hard drive file cabinet Hoppy???

I have it somewhere. I just have to find it. :rofl:

Probably easier to do a forum search then find it in my mess of a hard drive. ;)

But aren't we missing the big picture in this thread??? That all offensive quote? The one that causes cliques???
 
That all offensive quote?

I didn't want to start anything. But since you started it maybe I'll make a general statement to no one in particular.

Land appraisals are much more complicated than typical residential appraisals where there is already a house or other improvements. The "form" is deceiving and makes the process appear simple. It's not.

One of the big problems is making sure we've correctly identified the subject property. Sometimes land just looks like land and it's crucial that we are sure we are inspecting the exact property that is the subject of the appraisal. Even when someone supposedly knowledgeable about the property escorts us there, it's up to the appraiser to make sure it's the right one. What if you're standing in the street and looking at a vacant lot and say, fine this looks like the one and there appears to be no problem. Trouble is, it's not that lot but the one behind it... without access or utility easements, etc. For rural properties where the roads are private and not mapped, even on assessor's maps, the problem of locating the exact parcel is compounded.

Speaking of easements, there may be unrecorded easements or issues that are not readily apparent unless the appraiser digs deep and does quite a bit of research. Even then, he might miss something that will make the property virtually worthless or substantially more or less valueable.

Another issue is whether or not the parcel is buildable. There could be soil problems, water table issues, deed restrictions, zoning. etc, etc, etc.

Appraisers have to protect themselves with a strong scope of work statement and lots of disclaimers and CYA language such as "Appraiser cannot guarante that property is free of encroachments or easements and recommends further investigation, reports and surveys." Caution the client to use due diligence through local building departments to investigate for buildability if the property is suitable for the intended use, blah, blah, blah.

After an appraiser has done all that, he still has to figure out adjustments for utilities, size, views, topography, zoning, etc., etc. etc.

Before doing land appraisals an appraiser should have some experience and already be familiar with any forms needed.

This is just my opinion. There are many veterans here who may have something more to add (or subtract.)
 
I agree with Greg that vacant land/lot appraisals are more difficult than SFR appraisals even though the land form appears simpler.

On the other hand.......aren't we also doing a land appraisal when we do a SFR appraisal? Granted some of the questions with regards to buildability, exact location, etc. are more easily answered we still have to determine a value of the lot/land for the cost approach and to be able to make adjustments in the market approach. We even have to determine the value of the comparables lot/land to be able to make the adjustments.

As a former appraisal instructor once said, "We're appraising the land and the contributory value of the improvements."
 
On the other hand.......aren't we also doing a land appraisal when we do a SFR appraisal?
Not generally. Most of the appraisals I read have whatever land value makes the Cost Approach support the Sales Comparison Approach. There's virtually never any explanation of how the appraiser arrived at the land value.

I am sure that this is not common among those conscientious appraisers who post on the forum (even those not in the clique).

Since for the most part, the Cost Approach is of minor import, I ignore it except to note in my reviews that, "though the appraiser's overall conclusion is reasonable, we have no confidence in the unsupported land value conclusion".

And I do agree that appraising land is much more difficult that improved properties in general. They are fraught with infinitely more unknowns.
 
I am sending you an Excel work sheet. It will not attach to the thread, but anyone else wanting it, you can download from my website in a few days. I will ask my webmaster to add to my Resources and Links list. www.roxnoil.com

And yes, we do need to do land sales and improved as a better method of appraising

I find vacant land to be no more difficult to appraise than improved. It is just that for residential property, we have pretty much the idea that we know the motivations of the buyer (to live in or rent). Land has more alternatives. HBU is a more viable approach to determining the factors affecting value. THus in the land grid you can change the elements of comparison to the needs of the report.
 
Originally posted by Hal Mann@Jul 19 2005, 08:47 AM
There's virtually never any explanation of how the appraiser arrived at the land value.


Mr. Mann,

In Oregon, if pulling what your comment I quoted notes, will get an appraiser whacked by the state appraisal board. That's a pet peeve of theirs.

;)

Barry Dayton
 
Thanks for the good word, Barry. I sure wish New York would get on it.
 
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