Residential or Commercial??

[Rick Hess]

For log keeping purposes, also liability purposes, when does a farmette/farm property become a commercial appraisal?, or is it ALWAYS a commercial appraisal?
I sure don't want to log anything that may get tossed out by the state, or to have the state decide I am doing appraisals above my threshhold limit and not license me after I have passed the tests and gotten my minimum # of hours.

Thanks in advance

Brick

 

[Larry Lyke]

In Minnesota we call them Hobby Farms, depending on the area, can be 5 or 10 acres. Sometimes more.

Treat as though it's a residential appraisal., because it is. Of course, some are quite elaborate with horse barn(s), pole shed, chicken coops, rabitt hutches, over-sized garages for car hobbyist...

 

[Richard Carlsen]

Suggest you go over Highest and Best Use once more. Your determination there should answer your question for you.

 

[Mike Garrett RAA]

I find it really interesting that these "hobby farms" or in our neck of the woods "ranchettes" are almost always financed as residential. I have even seen bed n breakfast facilities called single family residences for loan purposes.

Highest and Best Use? Would any of them make it from an income basis? Famous Mikie saying...."it is what it is".