why are farm appraisals so expensive?

By Halderman

07 /12 /18

Hand with marker writing How Much Is Your Property Worth?

 

Why do farm appraisals take so long and why are they so expensive? There is a lot of research, analysis, knowledge, and writing goes into every report.  The Uniform Standards of Professional Appraisal (USPAP) are formal rules every appraiser is required to follow.  They require minimum standards to be followed by appraisers and are designed to protect the public and our clients. We are required to take regular classes to keep us updated on any and all changes.

Unimproved property values are influenced by size, shape, location, zoning, other governmental regulations, land mix, soil types, quality of timber in the woods, USDA information, crop history, road frontage, etc.  Building values are affected by size, capacity, effective age, functionality, condition, location, etc.  All property value is affected by its earning potential.

In the course of an appraisal assignment, we have to have to research the subject property but also completely research all recent sales of similar property and compare them to the subject.  This is a time consuming process that can only be correctly completed by trained professionals.

 

If you need an appraisal for purchase, sale, estate settlement, litigation, dissolution, partition, collateral assessment, etc. contact your local Halderman representative or call 800.424.2324 to find the appraiser in your area.