Real Estate Appraisal and Valuation Services

The vendor required to provide appraisal services for real property eminent domain acquisitions, dispositions and appraisal review, throughout the state.
- Requirement in (2) categories of appraisal services:
•    General appraisal and review appraisal
•    Billboard and outdoor advertising appraisal
1. General appraisal and review appraisal
•    The original task assignment will generally include a lump sum amount for the appraisal and report. 
•    Amendments may include a lump sum or hourly rate for a new appraisal or for additional work. 
•    On partial acquisitions, appraisals will always include before and after analysis unless otherwise directed by the department. 
•    If the subject property is improved, the property must be appraised as improved unless otherwise directed by the department. 
•    If the department determines that the appraiser failed to completely perform any of the required tasks, did not provide a sufficient level of information, committed errors of any nature, and omitted necessary documentation concerning the work performed, or failed to comply with the requirements of the contract, the contractor shall agree to correct deficiencies and errors within three (3) business days of notification, as well as furnish the required documentation at no additional costs to the department. 
•    The department shall have final approval for the determination of the acceptability for the report and submission deadline for reports. 
•    Unless specified otherwise, the appraiser shall prepare each appraisal or appraisal review. 
•    The content of each appraisal report must be consistent with the intended use. 
•    Electronic pdf files for all submittals of appraisal reports will be required. 
•    Other electronic formats are not acceptable.
2. Billboard and outdoor advertising appraisal
•    The appraiser must be familiar with the current valuation methodologies. 
•    The appraisals may also require allocation of values to divided parties and property interests. 
•    The property must be appraised before and after as improved unless otherwise directed by the department.
•    Determination of the acceptability of work will be made by the department. 
•    The appraiser shall follow accepted principles and techniques and appropriate appraisal standards in valuation of billboard property in accordance with existing laws.