rural appraisal
Rural Appraisal Service
Some common occurrences that may warrant an appraisal include:
- Buying or selling real estate
- Estate planning
- Probate
- Litigation support
- Mortgage financing or refinancing
- Property valuation for IRS tax purposes
- Eminent Domain
AgCentric Farm Agency can provide you a complete appraisal for all types of agricultural property. As professional appraisers, we have the knowledge, experience, and certification to analyze the market and determine the value of your property. Three approaches are utilized in the valuation process.
cost Approach
Utilizing the cost approach, the value of improvements based on the replacement cost, less depreciation, is added to the value of the land. Physical deterioration, functional obsolescence, and economic obsolescence are all considered in estimating the depreciated value of the property.
Income Capitalization approach
In the Income Capitalization approach, the income that the property is expected to generate is capitalized to estimate the value. The capitalization rate is based on net returns of property similar to that being appraised.
Sales comparison Approach
Finally, using the sales approach, direct comparisons are made between sales that have occurred and the property being appraised. Adjustments are made for differences in the quality of the land, value of improvements, location, size, and for changes that have occurred in the market over time.
To obtain an appraisal of your property, or a property you are considering purchasing, we will be glad to give you an estimate of the cost and the time required for completion of the appraisal report.