Developing the estimate of Market Value Restricted may require that the appraiser draw upon a variety of data sources. Unlike other types of appraisal assignments in which the market data is more likely to "speak for itself", developing MVR will require considerable discussion and rationale to adequately relate the sale properties to the subject. PART V: FINAL ESTIMATE: The difference between market value and market value restricted of the land represents the value of the development easement (i.e. just compensation). This conclusion must be presented on a per acre basis and as a total dollar figure. Discussion of the rights represented by this value conclusion should be recapitulated as well as changes in highest and best use of the unrestricted versus the restricted property. In short, the major points of the report should be summarized leading the reader to the same conclusion as the appraiser. PART VI : ADDENDUM: This section of the report should include, but is not limited to, the following items: 1. Subject property and comparable sales location map 2. Subject tax map Indicate the Subject – 3. Soils/flood/topographic maps Indicate the Subject on all maps. Indicate estimated area – impacted by flood hazard areas A or B. 4. Study of hydrological limited areas 5. Subject property photos (color) 6. Reference materials, studies, articles, or other data considered important by the appraiser 7. Development easement deed restrictions 8. Appraiser's qualifications 9. Appraisal License 10. A Copy of the Appropriate Application for the sale of a development easement or Fee Simple acquisition 11. Copy of the signed appraisal order checklist PLEASE BE SURE THAT ALL MAPS AND DIAGRAMS ARE CLEARLY AND FULLY LABELED Use of Hypotheticals as ordered by contracting party Divisions Occasionally a County or other contracting party may wish to have a – property appraised as though a subdivision were already in place. The contracting party is required to provide the appraiser with clear mapping of the proposed subdivision. The appraiser should clearly label the appraisal as Hypothetical and contingent upon successful final municipal approval of the subdivision prior to the conveyance of the development easement as described in the appraisal report. This shall be prominent in the Letter of Transmittal, Scope of Work, Certification of Value and Assumptions and Limiting Conditions sections of the appraisal as extraordinary
Developing the estimate of Market Value Restricted may require that the appraiser draw upon a variety of data sources. Unlike other types of appraisal assignments in which the market data is more likely to "speak for itself", developing MVR will require considerable discussion and rationale to adequately relate the sale properties to the subject. PART V: FINAL ESTIMATE: The difference between market value and market value restricted of the land represents the value of the development easement (i.e. just compensation). This conclusion must be presented on a per acre basis and as a total dollar figure. Discussion of the rights represented by this value conclusion should be recapitulated as well as changes in highest and best use of the unrestricted versus the restricted property. In short, the major points of the report should be summarized leading the reader to the same conclusion as the appraiser. PART VI : ADDENDUM: This section of the report should include, but is not limited to, the following items: 1. Subject property and comparable sales location map 2. Subject tax map – Indicate the Subject 3. Soils/flood/topographic maps – Indicate the Subject on all maps. Indicate estimated area impacted by flood hazard areas A or B. 4. Study of hydrological limited areas 5. Subject property photos (color) 6. Reference materials, studies, articles, or other data considered important by the appraiser 7. Development easement deed restrictions 8. Appraiser's qualifications 9. Appraisal License 10. A Copy of the Appropriate Application for the sale of a development easement or Fee Simple acquisition 11. Copy of the signed appraisal order checklist PLEASE BE SURE THAT ALL MAPS AND DIAGRAMS ARE CLEARLY AND FULLY LABELED Use of Hypotheticals as ordered by contracting party Divisions – Occasionally a County or other contracting party may wish to have a property appraised as though a subdivision were already in place. The contracting party is required to provide the appraiser with clear mapping of the proposed subdivision. The appraiser should clearly label the appraisal as Hypothetical and contingent upon successful final municipal approval of the subdivision prior to the conveyance of the development easement as described in the appraisal report. This shall be prominent in the Letter of Transmittal, Scope of Work, Certification of Value and Assumptions and Limiting Conditions sections of the appraisal as extraordinary
Handbook%20-%20Comparative%20mode.docx