Appraisal Introduction

The Appraisal Process

 

According to The Appraisal of Real Property, "An appraisal is an unbiased estimate of the nature, quality, value, or utility of an interest in, or aspect of, identified real estate.  An appraisal is based on selective research into appropriate market areas; assemblage of pertinent data; the application of appropriate analytical techniques; and the knowledge, experience, and professional judgment necessary to develop a conclusion that is appropriate to the problem."

 

Once you contact us and provide the basic information on your property (i.e. size, legal description, purpose, timing, etc.), we prepare a proposal outlining the fee and estimated completion date.

 

This proposal becomes our agreement (or contract) when signed by you and returned to us.  We require a retainer fee of 60% of the total fee to be paid upon signing the agreement.

Frequently Asked Questions

 

1.  What is an appraisal?

An appraisal is an unbiased opinion of value based on market data.

 

2.  How long does an appraisal take?

An appraisal usually takes 60 to 120 days depending upon the complexity of the assignment and our workload at the time of the contract. 

 

3.  How much does an appraisal cost?

The cost of an appraisal is determined by the complexity of the appraisal assignment and the length of time required to complete the project.

 

4.  What types of properties do you appraise?

Our primary focus is on rural properties throughout Colorado, Nebraska, and Wyoming.  This includes farms, ranches, vacant land, and recreational properties.  We also perform appraisals for eminent domain, estate valuations, Federal land exchanges, Conservation Easement encumbered valuations, and city, county, state, and federal land acquisitions.

 

5.  Do you perform residential appraisals?

We do not appraise houses.  There are other appraisers who specialize in residential appraisals who can complete residential appraisals more efficiently and cost effectively than we can.  However, we do appraise residences on larger parcels of land (i.e., 3 acres and up), or as part of a farm, ranch, or recreational property.

 

6. What do the titles ARA and AFM stand for?

These are designations awarded by the American Society of Farm Managers and Rural Appraisers after certain experience and education requirements are met.  The ARA designation stands for Accredited Rural Appraiser while the AFM designation means Accredited Farm Manager.