Restrain
Elite Member
- Joined
- Jan 22, 2002
- Professional Status
- Certified General Appraiser
- State
- Florida
The question involves, are utilities available and present. Remember, the old Land Appraisal form is very ancient. Here's a prime example of why you should examine the availability of utilities how to answer them.
A proposed subdivision on 150 acres, tract home development, 6 houses per acre density. The property was platted. Office was asked to do an appraisal. Local water company line was adequate to handle the service, but would require the usual "you install the line, we'll provide the water" agreement. However, city sewer was not available. Minimum county requirements for a septic system is now 1 acre. Land usage went from medium-high density development to acreage development. Significant value differential.
The utilities and the effect on the value was discussed in an addendum, and that's how I recommend that any non-public utility analysis be done. For that matter, I would recommend that an analysis of the site, location, road and utilities, and H&B use be provided in an addendum. The form is just not sufficient.
As to the specific question, if there are no utilities on site, but they are available, just say so. Don't try to force the description into a box.
A proposed subdivision on 150 acres, tract home development, 6 houses per acre density. The property was platted. Office was asked to do an appraisal. Local water company line was adequate to handle the service, but would require the usual "you install the line, we'll provide the water" agreement. However, city sewer was not available. Minimum county requirements for a septic system is now 1 acre. Land usage went from medium-high density development to acreage development. Significant value differential.
The utilities and the effect on the value was discussed in an addendum, and that's how I recommend that any non-public utility analysis be done. For that matter, I would recommend that an analysis of the site, location, road and utilities, and H&B use be provided in an addendum. The form is just not sufficient.
As to the specific question, if there are no utilities on site, but they are available, just say so. Don't try to force the description into a box.