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What Should I do?

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greathl21

Freshman Member
Joined
Mar 26, 2008
Professional Status
Licensed Appraiser
State
California
I recently did an appraisal for an actress (to remain annonymous) and she was real nice and sweet. She promised she would get me business and she just called and left me a message. She is asking if I do land appraisals.

I have never done land appraisals before and was wondering if there is a source where I can pick up on it real quick. Can I reply back with a yes I do land appraisals and learn it over the coming few days? Or is this overly complicated and I need to take a course to familiarize myself with it.

Previously, an appraiser told me they would take me along to do a land appraiser and that I could do it on my own from there. How reliable is that?

Thanks in advance!
 

stefan olafson

Senior Member
Joined
Apr 2, 2003
Professional Status
Certified General Appraiser
State
North Dakota
What type of land are you thinking of appraising? Residential? Commercial? Investment? Agricultural?

It takes more than a few days or weeks to be able to do any of the above properly. My suggestion is to associate yourself with someone who does a lot of land appraisals and split the fee with them. After you assist in a number of jobs, you may have at least a rudimentary understanding of process.
 

Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
What type of land are you thinking of appraising? Residential? Commercial? Investment? Agricultural?

It takes more than a few days or weeks to be able to do any of the above properly. My suggestion is to associate yourself with someone who does a lot of land appraisals and split the fee with them. After you assist in a number of jobs, you may have at least a rudimentary understanding of process.

Good advice. That would be my suggestion also.
 

DWiley

Elite Member
Joined
Apr 4, 2007
Professional Status
Certified Residential Appraiser
State
Tennessee
I have never done land appraisals before and was wondering if there is a source where I can pick up on it real quick. Can I reply back with a yes I do land appraisals and learn it over the coming few days?

If one has never done a land appraisal can one honestly say that they do land appraisals?


You must tell the potential client that you have not done this kind or work before. In order to fully comply with the COMPTENCY RULE you must:
  1. disclose the lack of experience prior to accepting the assignment
  2. become competent
  3. disclose in the report the lack of experience and/or knowledge and the steps taken to competently complete the assignment.
USPAP, page U-11

Good luck - Celebrity clients can lead to some very interesting assignments.
 
Last edited:

Brad Ellis

Senior Member
Joined
Feb 7, 2006
Professional Status
Certified Residential Appraiser
State
California
How good looking is she?

Brad
 

Lawrence R.

Senior Member
Joined
Mar 27, 2007
Professional Status
Certified General Appraiser
State
South Carolina
All I could do at this point would be to paint a mustache on the Mona Lisa. You have your answer at this point.

Good work guys.
 

stefan olafson

Senior Member
Joined
Apr 2, 2003
Professional Status
Certified General Appraiser
State
North Dakota
If she's really a looker I'm available to mentor you! All I require is a round trip airfare to the general vicinity of the property, a bottle of wine, and a blanket. Me and her can scout the property and I'll report back to you.......
 

Mztk1

Senior Member
Joined
Dec 3, 2006
Professional Status
Certified Residential Appraiser
State
Florida
What is the land like? Technically you should be doing a land appraisal on every 1004 that you complete the cost approach with.

If it is a lot that you have no experience with, you must tell the client of you lack of experience and then tell them how you are prepared to proceed. If they agree, then you are good to go.
 

Bama Bayou

Senior Member
Joined
Oct 19, 2006
Professional Status
Certified General Appraiser
State
Alabama
I really don't see how anyone can appraise any real estate (ok, maybe condos) without being able to appraise land. That is what we appraise, the land along with permanant improvements.

When you give land value in a cost approach, guess what, you've done a land appraisal.
 

incognito

Senior Member
Joined
Jul 14, 2005
Professional Status
Certified General Appraiser
State
Florida
You have your answer. We have to assume this is not a 1-4 family residential site, as you certainly must know how to appraise that type of land, as has been pointed out. Wiley's answer is right on, but excludes one possibility. In lieu of #2 (become competent), you may also engage the professional assistance of an appraiser who is competent and experienced with that type of land, to work with you through the ENTIRE appraisal, including signature. Lastly, there could be a licensing issue as well. Does your state allow you to appraise all land types and values with your level of licensing?

It brings to mind an interesting thing about Lawyers. An attorney DOES NOT have to disclose to a client (unless directly asked) that he or she has no experience in a specific area of law, when accepting a case...
 
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