Vacant Acreage Comp Photos?

[Richard Carlsen]

The last two sales of unimporved property that I have appraised for two different lenders, both have come back and said that they wanted photos of the comps. This one today is a 28 acre parcel sale with comps of 43, 24, 40 and 46 acres. All are wooded. Photos will be nice pictures of trees and that's about it.

Anybody else running into this?

Oh yes, the comp photos are going to cost them an extra $100 as the comp photo requirement was not in the assignment.

 

[Joker]

Stay home, stand in the woods and take pictures in four directions. Problem solved. (tongue in cheek)

I have not been asked for such but I don't find it that hard to believe.

 

[DH Wilson]

google earth

 

[Walter Kirk]

Did you include a tax parcel map of the comps in your report? I have never had a request for a photo of vacant land.

 

[xm72mhd]

Richard, far be it from me to advise thee. I think comp photos of vacant land are absolutely unnecessary unless you are trying to show some kind of a hazard or benefit that can't be described with mere words.

But that having been said, the leading phalanx of nit pickers in the client's army has been taught to require 'em as far as I know. So there is a client expectation and you may not be correct in charging for it. Besides, if you are going to look at the comps, what's the big deal about taking and delivering a pic in this day of digital everything? Or is there another unstated assignment condition here?

 

[Ray Miller]

I get this request all the time.

Matter of fact got chewed on last week because I took a picture across the neighbors land so you could see that the subject land from front to back was nothing put trees. The land owner told the lender that the open land was not thiers. The lender had me go back out and correct the picture so I showed nothing but trees.

Also sent them a bill for $250.00 that I will collect.

One of my CGs mentored me just to take the pictures of the comparables and be done with it. He said you got to walk it anyway to be sure it is similar to the subject. You got to check the subject so just take a lot of pictures while you are out.

Working on one tomorrow and the temp is going to be 50 degrees. Where I will ride the 640 acres horse back. Will be taking a lot of pictures of the property. Yes they are paying for the ride about at the rate of $35 per hour. Buyers daughter is going to be riding with me, I am taking one of our Mules. Thats about the only thing that will carry my wieght any more. Now if I was just 20 years old again and know what I know now.

 

[The Warrior Monk]

My opinion: If for a lender, just take the photos. If you're driving by the property anyway, it doesn't take much effort to point and shoot.

On occassion I don't take photos for nonlender assignments for certain properties, e.g., landlocked parcels.

 

[Richard Carlsen]

I've done vacant land appraisals for this client on and off for years (major bank in the Midwest). I've never had this request before and never used vacant land comp photos before. The odd part is, I can see on a small lot. Perhaps the photos would tell the reader something but lets face it, a photo of a 2 million sq foot parcel of wooded, rolling land. What will the reader gain from that. I put aerial photos, tax maps and topo maps in the report to show the lay of the land. Little did I think that they would want a photo of a dirt road and trees.

But they will get them. Going back out this afternoon and shoot the photos.

By the way Ray, I never walk vacant land comps. I don't even drive down the lanes or two-tracks on them. Being an appraiser does not give me permission to go on the land anymore than I would have permission to just walk into someones house. I maintain that you can get the necessary info from aerial photos and topo maps.

 

[Ray Miller]

By the way Ray, I never walk vacant land comps. I don't even drive down the lanes or two-tracks on them. Being an appraiser does not give me permission to go on the land anymore than I would have permission to just walk into someones house. I maintain that you can get the necessary info from aerial photos and topo maps.

I shoot for written permission to advance up on the land. No permission given then I don't tresspass upon the land of others.

I like the walk abouts and ride abouts. It tends to give me a better picture of the land and what its about.

 

[Elliott]

I give them 3 photos of vacant land. Then they go away.
Maybe they compare them with the Google Earth photo.
I hope Zaio isn't missing out on this great opportunity to take
photos of all the vacant land along with those houses.

Elliott