A tract of land which may be used for subdivision purposes is typically appraised under one of two scenarios as determined by the client. These include a simple appraisal of the land based upon its highest and best use, or the appraisal of the land as a subdivision. When a Subdivision Appraisal is ordered, the appraiser is provided with subdivision plans, cost estimates and financial projections. It is possible that the Market Value conclusions resulting from the two different types of assignments may vary, given the varying scope of work and conditions of the assignments. When a Subdivision Appraisal is required, consideration should be given to the qualifications of the appraiser selected to perform the Appraisal. The appraisal of a subdivision requires, at a minimum, an appraiser with a State Certified General appraisal license, while an appraiser with a recognized appraisal designation is preferred. The appraiser selected to perform a Subdivision Appraisal should also have experience in this field.
At ELLIOTT®, we have an experienced client service staff and appraiser panel capable of performing Subdivision Appraisals anywhere within in the United States. We stand ready to discuss your Subdivision Appraisal needs.