One of the common misconceptions about farm real estate appraisers is that our valuations are strictly concerned with real estate: acreage, location, buildings, soil types, and so forth. This conception is true in most cases.
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For many purposes, farm appraisals providing an opinion of value for an entire farm property and rights of ownership are sufficient. Many farm appraisers are primarily experienced in appraising complete ownership interests in a farm property because it is most commonly requested.
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Having recently appraised two different types of grain facilities, I was reminded of how appraisers may need to follow different methods even when appraising the same kind of property.
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I recently completed an appraisal on a marginal farm property, about 77% open tillable/pasture ground, in rural Adams County, Illinois. Another appraiser in our office had completed an appraisal on the same farm in 2015.
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