Land Appraisal

[Charlotte Dixon]

Originally posted by Greg Boyd@Mar 2 2005, 10:52 AM
The bulk of the appraisal report would be in the narrative pages you will have to write to thoroughly cover the bases on this type of project.

Why even bother with a preprinted form?

1) You will need a survey describing WHICH 2 acres
2) Are the 2 acres unimproved? If so,
The preprinted form is the best way to go, in my opinion. You can keep it simple in this case. I see no need for a narrative. Just add an addendum to your land form explaining the extraordinary assumption....i.e. As per the Scope of this Appraisal, a survey is attached describing the 2 acres requested to be appraised, which are a part of a larger parcel......etc. And, note in the body of the land report that there is an addendum attached describing the extraordinary assumption, and say: This addendum is an integral part of this land appraisal report, and without reading the attached addendum, this appraisal may not be fully understood (in case somebody throws the addendum away).

Our job is to make the report comprehensive, yet east to read so that it is easily understood by all. I wouldn't garbage it up showing how much I (or you) know about narrative writing. An Addendum, properly written, will do the trick.

 

[Edd Gillespie]

Originally posted by bobby jones@Mar 2 2005, 09:05 AM
The property is a five acre parcel with home and out buildings. The owner is selling 2 of the 5 acres and would like to know the value of the 2 acres.

Pam, unfortunately I left my supervisor 3 years ago and started my own shop.

Steve, I use wintotal.

So its a subdivision. 5A into two parts. Watch out the hypothetical condition police don't come and get you if your report is going to lender (if so two values to show impact of the hypothetical on the as is-and all that has to be supported). Also there is a thread on here somewhere @ two months ago (probably more than one) about how complex this land sub thing can get. I think the gist of it is-get some help-don't just try to follow a form. Its the competency thing again.

Isn't it amazing the breadth and depth of the advice one can get on here? Its just great, I think.

 

[Steve Owen]

With all due respect to people on both sides of the issue, I don't believe there is enough information given to determine whether a form or narrative is the best way to go with this one. IMHO it mostly depends on the comps in a case like this. If comps can be found to indicate value of the smaller tract with little adjustment of the unit price, then a form would probably be fine.

If, on the other hand, the best comps are different enough in any respect, so as to require any kind of less typical adjustment, then a narrative would probably be better. I agree that the land form stinks, but still will not hesitate to use it if the situation is right for it.

One last thought. If there are complicated zoning issues, environmental issues, or anything else that complicates the job, then a narrative would actually be easier to do than a form. Most software, including WinTotal does not handle text very well - if you have to do a lot of writing, you are a lot better off with your word processor.

 

[CANative]

Land Appraisal

Here's a copy of one I did a few months ago. I have redacted specific information.

The "no mocking" rule is in effect. :lol:

 

[Charlotte Dixon]

Good job, Greg! That should answer "is a preprinted form comprehensive enough" question.

And of course, land appraisal fees are much lower, because there's not as much to a land appraisal, right? :rainfro:

 

[bobby jones]

Thanks Greg, you were a big help.

 

[Terrel L. Shields]

This is my short narrative style (i do 3, 4, and 6 sales). I red highlighted the boxes that calculate. The rest are for input. I put in some dummy values to show you how it works. The red KEYBOARD statements are keyboard merges within WordPerfect - running the merge stops at each Keyboard merge code and allows unlimited input or insertion of files.