Land Valuation commercial property

[George Hatch]

With respect, I think you're much better off figuring this out now than figuring it out a year from now when someone's on your case for some accidental omission.

 

[Terrel L. Shields]

Our state forbids Licen. appraisers from appraising anything over $250,000 regardless use if I read it right.

 

[CANative]

http://www.state.ar.us/alcb/Current_Appraiser_Rules___Reg_12-09-09.pdf

STATE OF ARKANSAS
APPRAISER LICENSING AND CERTIFICATION BOARD
RULES AND REGULATIONS
(EFFECTIVE JANUARY 1, 2010)

(6) "STATE LICENSED APPRAISER"- Any individual who has satisfied the requirements for State Licensing
in the State of Arkansas and who is qualified to perform appraisals of real property types up to a monetary size and
complexity as prescribed by the Appraisal Qualifications Board of the Appraisal Foundations. (Note: This classification
applies to the appraisal of non-complex one-to-four residential units having a transaction value less than $1,000,000
and complex one-to-four residential units having a transaction value less than $250,000 based on the consensus of the
Appraiser Qualifications Board of the Appraisal Foundation. The Federal Financial Institutions Regulatory Agencies
as well as other agencies and regulatory bodies permit the licensed classification to appraise properties other than those
specified by the Appraiser Qualifications Board. All Licensed appraisers are bound by the Competency Provision of
the Uniform Standards of Professional Appraisal Practice.)

Section I - General (F) Restrictions on Appraisal Practice/Services
A State Licensed Appraiser may perform appraisals of non-complex one (1) to four (4) residential units having a
transaction value of less than $1,000,000 or such other transaction value levels as shall be set by the Federal Financial
Institutions Regulatory Agencies and of complex one (1) to four (4) residential units having a transaction value of less
than $250,000 or such other transaction value levels as shall be set by the Federal Financial Institutions Regulatory
Agencies. In addition, a State Licensed Appraiser may perform appraisals of all other properties of a non-complex
character with transaction values up to levels set by the Federal Financial Institutions Regulatory Agencies subject to
the Competency Provisions of the Uniform Standards of Professional Appraisal Practice. *

* State Licensed and Certified Residential appraisers performing appraisals on non-residential (i.e. commercial,
farms, timberland, etc.) property types shall comply with the following limitations.

- Federally Related Transactions: A state licensed/certified residential appraiser shall be limited to appraising a
“transaction value” (loan value) of no more than $250,000.

- Non-Federally Related Transactions: A state licensed/certified residential appraiser shall be limited to a
“property value” of no more than $250,000.

 

[Scott R Marshall]

CANative,


The OP is in Maryland not Arkansas although most anything south of the Mason-Dixon line is pretty much all the same.:laugh: