Atlanta CG
Senior Member
- Joined
- Jan 15, 2002
- Professional Status
- Certified General Appraiser
- State
- Georgia
Fee-owned 3 acre parcel with home. Adjacent are 2 vacant parcels he leases from the power compay to gain access to a reseroir/small lake. No visual view from the home to the lake. Leases run for several years at minimal $ but can be revoked at any time per power company if they decide to do something with the land. Owner says $$$ because he is on the lake. I say I am only valuing the fee simple interest and that is not on the lake. This is not like Corps of Engineer land that surround some of our lakes where no-one owns the lake frontage but owners have natural rights to cross to get to the lake. The leases obviously create value but absent from any info from the lender (they are clueless) I presume I am to value the fee simple only.
What say anyone?
What say anyone?