How to Choose the Right Land Appraiser Essential Tips for Property Owners

1. How to Choose the Right Land Appraiser Essential Tips for Property Owners Getting an accurate appraisal is crucial when making major decisions regarding your vacant land. However, finding the right appraiser for raw, undeveloped acreage requires more care and expertise than appraising improved commercial properties or residential homes. Follow these essential tips to choose a qualified land appraisal professional. Verify Specialized Credentials and Designations Not all real estate appraisers have the same competencies. Seek out a professional land appraiser who holds designations like the Appraisal Institute’s AI-GRS — given specifically to valuation experts in agricultural properties, ranches, timberland, undeveloped tracts, and natural resources. This signifies advanced land valuation education. Also look for the Accredited Rural Appraiser (ARA) certification. Assess Experience with Local Land Types Appraising recreational lands, dry arid acreage, rolling pasture terrain, and wetlands each come with unique nuances. Find appraisers with specific demonstrated experience valuing properties similar to your topography and intended use. Local market exposure is also key. An appraiser in another region may not fully grasp the demand dynamics and value influencers in your area. Ask About Methodology Expertise While the sales comparison approach remains important for land valuations, appraisers should also demonstrate experience with substitution analysis, allocation analysis, and the anticipation of future value when highest and best use differs from current state. Assess their application of discounting and residual techniques to account for entitlement stages and absorption timelines. Ensure Access to Specialized Data Sets Accurate land appraisal commercial property relies on transactional details of recent vacant land sales, not just improved property sales. Appraisers should source data from farm/ranch MLS listings and tap into commercial land sales not always found in typical MLS records. Evaluate if they leverage geospatial analytics platforms for granular location insights and custom land valuation maps. These capabilities help strengthen credibility. Check for Land Use Regulation Knowledge

2. Understanding county and municipal zoning codes, land use allowances, utility service boundary maps, development ordinance constraints, and the entitlement process is imperative. Ensure your appraiser can aptly evaluate the legally permissible use potential for the property among all possible physical uses. By asking the right questions upfront and verifying land-specific qualifications, property owners can better assess an appraiser’s fit for their unique assignment. This helps install confidence when deciding on an opinion of value for making data-driven decisions regarding your vacant land. Ref : https://medium.com/@vracommercialusa/how-to-choose-the-right-land-appraiser-essential- tips-for-property-owners-20f20ff24f02