Real Estate Appraisal Services

The vendor required to provide real estate appraiser shall furnish a substantiated appraisal report of the market value of the property being appraised, to be estimated in accordance with recognized appraisal procedures.
- The appraiser shall make such investigations and studies as are necessary to derive sound conclusions as to the market value of the property and to prepare an adequate appraisal.
- Assignment:
•    The appraiser shall first report, regardless of any larger parcel determination, a market value conclusion for each tract provided herein, and calculate an aggregate per acre value containing all tracts.
•    If the appraiser’s determination(s) of highest and best use finds that there are legal limitations (i.e., zoning) that, if altered, would produce a significant difference in the conclusion, the appraiser may employ a hypothetical condition (i.e., rezoning) to consider value under a proposed highest and best use.
•    If differences between each tract exist that cannot be reconciled into a uniform determination that applies to the entire acreage, the appraiser may suppose an appropriate hypothetical condition (i.e., assemblage, partitioning) that would allow for maximal use benefitting a future purchaser.
•    If the appraiser’s determination(s) that an extraordinary assumption(s) needs to be and is employed as of the effective date of the appraisal, the appraiser shall document why an extraordinary assumption was employed.
- Property features or improvements:
•    If a structure or improvements are located on the identified tract, the appraiser shall consider it as an improvement in place and consider its contribution to value accordingly, under whatever determination is made under an analysis of highest and best use as improved. 
•    Determination for subject value “as if vacant” can separately consider the subject as land only assuming the removal of such structure or improvements.
•    Buildings with bond indebtedness shall be considered as if under no indebtedness for their contribution to value for the tract upon which they are situated.
•    The appraiser shall confine the description of the property to the real estate. 
•    Any non-permanent item (debris, waste, equipment materials, etc.) observed, stored, or noted as present on the property shall be disregarded as to salvage value or removal costs.