Land w/cabin vs home w/land

[Joyce Potts]

It sounds like a classic differentials in the 'hubcaps' scenario.

 

[JTip]

Lotsa difference in "Cabins"...

Great examples T.

A cabin is where you sleep on a hunting trip. Gravity drip oil heater. One huge master bedroom with 8 bunk beds. Uncle Bill starts to snore in 20 seconds. Wind blows through the walls. 50 feet to the outhouse. A cabin.

A Cabin is a hand debarked white pine custom home that is preassembled in Colorado for fit. Shipped cross country and installed on a superior poured wall walkout foundation. River rock fireplace, oak mantle harvested from out back behind the trout stream. 300 channels and a mini wine fridge filled with beer. A Cabin.

 

[hastalavista]

...begins to affect H&BU.

This seems like a H&BU question to me as well.
Solve that problem first, and then the rest will fall into place.

 

[Doug Wegener]

complex

I'd like your opinion on when a report (which form to use) should be considered a land appraisal with a cabin or a home appraisal with large acres. I'm not really looking for comments about less fee for a land report or that the form doesn't matter.

The subject is a "cabin" (as described by the borrower) with 240 acres of hunting land. I have no issues with the land portion, or even a small cabin for that matter. But the cabin (found this out when I went there) is a 2 story newer stucture, built similar to a Q4 home, with heat/AC, running water, kitchen/bath. Open concept main level with upper loft bunk area.

Basically, what I'm asking is would/have you done something like this on a land appraisal form. Or, do you think that completing on a land form would be misleading?

In the two states where I am LICENSED that would be a complex appraisal beyond the scope of LICENSED APPRAISERS license.

 

[Terrel L. Shields]

A cousin, an outfitter had a "cabin" for his clients, which included a couple of governors, oil company execs, etc. The "cabin" cost $350,000 in 1985 dollars to build.

 

[VegasWayne]

Here's a real cabin for you.

 

[sputnam]

USPAP is silent on the use of forms. Use whichever form you think provides the best understanding of the property and your analysis...or...whichever form your client wants you to use. Whichever form you use...just make sure you do not let the form dictate the content of the appraisal report. You have to comply with USPAP whether the form guides you there or not...and you can't provide a report that is misleading.

 

[J Grant]

I agree with Sputnam.

That said, the URAR form seems less misleading then the land form. Most of the value will likely be in the land, however it is not going to be a land only appraisal ...will likely have a lot of narrative no matter which form is used.

 

[Tim Schneider]

In the two states where I am LICENSED that would be a complex appraisal beyond the scope of LICENSED APPRAISERS license.

Thanks for your input... I am Cert Res... need to update my profile.

 

[Michigan CG]

I think the land form is worthless, especially for this type of assignment; I would do a narrative. I am guessing the land contributes most to the value?

Either form would be acceptable if you have to use a form. Either way you have a lot of explaining to do no matter which form you use.