Even though land is relatively inexpensive or contributes a relatively small portion to the overall value of the property or business, land appraisal is often disproportionately complicated and difficult. Sometimes the appraisal context, the client’s purpose and use for the appraisal, dictate appraisal hypothetical assumptions. For example, when appraising for property taxation, even if the property is leased (a leased fee estate), many states require the appraisal to assume a fee simple estate. Improvements can diminish or enhance land value. Most commonly various intangible characteristics of the land, such as permits, approvals, deed restrictions, encumbrances, and easements and rights of way, etc., have dramatic impacts on the value of the land. Further, the development potential of land, either vacant, or surplus or excess land, can be difficult to discern, even before air rights and transferable rights issues are encountered. The credible appraisal of land requires extensive experience.
Federal Appraisal has decades of intensive land appraisal experience, and is able to ensure cost effective credible land appraisal. Hiring Federal Appraisal is like an insurance policy against future accounting, tax and legal problems concerning land appraisals.
- land developments and feasibility and market studies
- residential and commercial land
- rail road land, land for transmission lines and pipelines
- special use land
- fee simple, leased fee, leasehold, easements, rights of way
- partial interests, temporary interests
- land sales approach and land residual
- litigation, damages