Accredited Rural Appraisers (ARA)
Appraisals of agricultural enterprises and rural properties demand qualified experts who understand the complexity and intricacy of modern agriculture and today's rural environment. Rural Appraisers serve land owners and lenders in providing property valuations upon which lenders, farmers, and investors can base lending or investment decisions. They keep up with today's ever changing land values to provide expert estimates and analysis of the market value of improved or unimproved rural real estate. The property's appraised value is used for sale or purchase, estate or financial planning, lease and rental provisions, loan collateral, tax considerations, and many other applications. Description of the land and improvements, discussion of future use, estimated property value based on probable income, cost to duplicate, and comparison with recently sold properties is included in the information provided by a professional appraiser.
The comprehensive appraisal you receive from an ARA is your assurance of a superior valuation for your agricultural enterprises or rural properties. Many ARAs are state certified; the experience and education required to become an ARA are significantly more stringent than that required for state certification, which makes an ARA the expert in the valuation of rural properties.
The ARA:
- Has expertise in the appraisal of rural and agricultural property
- Is educated and experienced in the exploration of soil, water quality and availability, crop potential
- and improvements to estimate value of land
- Adheres to the requirements of the Uniform Standards of Professional Appraisal Practice
- (USPAP)
- Has a network of agribusiness professionals to share information with
Expertise in:
- Eminent domain (condemnation) proceedings
- Litigation involving land valuations, damages, or losses
- Estate planning, gift valuations, or inheritance issues
- Determining a value to sell a property
- Loan purposes
- Expert witness services
- Assistance to banks and trustees in real estate holdings property division
Appraisals for:
- Business and/or Personal Property
- Condemnation - compensation including value of land taken by governmental agency plus
- severance damages
- Natural Resources - timber, minerals, water rights
- Partial Interests- minority, leasehold, life estates, scenic and conservation easements
- Complex Properties - permanent plantings, processing facilities, transitional or recreational
- properties
Real Property Review Appraisers (RPRA)
The complexity of today's financial and legal environments demands expertise for appraisal review services. Real Property Review Appraisers prepare a professional review that is an in-depth analysis of the accumulation of those underlying factors that, when combined, serve as a basis for the estimate of value of the property. The reviewer confirms that the appraiser properly assessed those factors in reaching the value estimate. A review assures an accurate appraisal of real property involved in a transaction such as inheritance taxes, estate planning, buying or selling, settling an estate or dividing a property. A competently-prepared appraisal review also gives added support to the strength of an appraisal, or will identify the weaknesses and corrections necessary to make the appraisal acceptable. The RPRA is uniquely educated, understands the changing face of the appraisal industry, and can ensure that an appraisal is in compliance with regulations and requirements. The RPRAs appraisal review provides a superior evaluation for all types of enterprises and properties.
The RPRA signifies the highest level of expertise in the review appraisal process. The RPRAs advanced expertise ensures accuracy for clients needing appraisal reviews of complex properties or situations. An RPRA adheres to the requirements of the Uniform Standards of Professional Appraisal Practice (USPAP) and has additional expertise exceeding state certification and licensing requirements.
The RPRA:
- Provides focus and knowledge in appraisal review
- Is educated and trained to provide an expert opinion of appraisals
- Can determine if appraisals comply with government regulations and Requirements
- Networks with colleagues for assistance when unusual or special circumstances arise
Expertise in:
- Regulated lending institutions
- Establishing review procedures as required by FIRREA
- Ensuring USPAP compliance
- Providing support for recommended corrections for appraisal
- Arbitration for value difference
- Ensuring appraisal conformity to contract and policy
- Providing cost savings vs. permanent review staff
Attorneys:
- Court reconciliation-valuations, condemnations, and bankruptcy
- Assist in estate planning, property division, IRS 1031 exchanges and foreclosure
- Additional support for:
- Sale price values
- Investments
- Ownership rights
- Loan security
- Value disputes
If you are just getting started with appraising, visit the Appraisal Foundation website at www.appraisalfoundation.org. Click on “How Do I Become an Appraiser” link. You will also want to ensure you visit the “2008 Qualification Criteria Changes” link. It would also be beneficial to call and talk with your own state board to determine how they are handling the changes within the state.
If you are interested in farm and rural appraising, please look through the rest of our web site to see more information on ASFMRA education and membership.
